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Family Dollar to close hundreds of stores, rebrand others

(Photo Supplied/Dollar Tree Inc.)

NEW YORK (AP): A national discount retail chain with multiple Fort Wayne locations is closing hundreds of stores.

Dollar Tree Inc. is closing up to 390 Family Dollar stores this year and rebranding about 200 others under the Dollar Tree name. The company has slashed the value of its struggling Family Dollar chain, booking a $2.73-billion charge in its fiscal fourth quarter, which led to a massive loss.

The company also said it’s open to testing new prices at Dollar Tree, where most items are priced at a dollar and nothing over that amount. Family Dollar sells most items for under $10.

The company website shows nine Family Dollar locations in Fort Wayne, with others in Angola, Berne, Columbia City, Huntington, Portland, and Ligonier. No word yet on if any of them will be closing.

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