Family Dollar to Shut Down Several Illinois Locations As Part of 1,000 Store Closings Nationwide

Two Family Dollar stores in Peoria, Illinois, are set to close as part of the company's broader plan to shut down nearly 1,000 locations nationwide. The closures come in the wake of Dollar Tree's disappointing holiday-quarter sales and profit figures, prompting a strategic decision to restructure the struggling Family Dollar business.

Nationwide Store Closures

Dollar Tree, which operates Family Dollar stores, intends to close a significant portion of its locations across various states, including Missouri and Illinois, along with others in the Midwest. The decision reflects the company's efforts to rejuvenate its underperforming branches.

Closure Timeline

Of the total planned closures, 600 Family Dollar stores are expected to shut down by the end of the first half of the current year. Additionally, another 370 locations are slated for closure in the following years. Dollar Tree also announced the impending closure of 30 Dollar Tree stores as their leases expire, further emphasizing its restructuring strategy.