The discount market is much more difficult these days for retailers and thus Family Dollar and Dollar Tree have announced they will be closing 1,000 stores with the closures beginning this year according to a report from CNN.

As the leases of some of these stores across the country, that is when the selected stores will be shuttered.

While details are just coming out, we do know that Family Dollar will be closing six hundred stores in the first half of this year, and then another 370 stores will be closed in the next several years.

It has become much tougher on consumers in recent years as inflation has eased, but not enough for consumers to have as much buying power as they once had. While the prices of some food items and commodities have come down, most have not. People simply have to be much more careful with their money today than four years ago.

Combine the lack of buying power with a tougher discount retail sales game, the company says it's time to close some stores. They also have to compete against Walmart and Dollar General stores.

One of the other major issues with Family Dollar stores is safety. According to the Justice Department, this year, Family Dollar was fined $41.6 which was "the largest-ever monetary criminal penalty in a food safety case."

Why Was Family Dollar Fined?

Rodents. Health officials say they were found to be selling food items that were being stored in a rat-infested warehouse. What did officials find? Live rats, dead rats, and decaying rats.

The recalls in 2022 included food, pet food, cosmetics, medicine, medical devices, and supplements.

When Family Dollar bought Dollar Tree, according to CNN, many of the Dollar Tree stores were rundown and not in good condition.

What Stores Will Close?

We are digging into this further story to find out how these closures will impact Louisiana and Texas as many of us depend on these stories to cut costs for food and products we need.

So far, the company has not mentioned which stores will be closing.

Reuters says they have a total of 16,774 stores combined. They will close 600 Family Dollars stores this year. They will close another 370 Family Dollar locations in the next several years, and 30 Dollar Tree stores.



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