(3-13-24) Facing major financial losses Family Dollar, part of Dollar Tree, Inc., announced today that they will be closing nearly 1,000 stores in 2024. No locations of sites were listed in the release.

In the stateline area there are three Family Dollar stores…Celina, Minster and Portland Indiana.

Below is part of the release that was posted on the corporate web site.

From the Family Dollar and Dollar Tree News Release

During the fourth quarter of fiscal 2023, the Company announced that it had initiated a comprehensive store portfolio optimization review which involved identifying stores for closure, relocation, or re-bannering based on an evaluation of current market conditions and individual store performance, among other factors. As a result of this review, we plan on closing approximately 600 Family Dollar stores in the first half of fiscal 2024. Additionally, approximately 370 Family Dollar and 30 Dollar Tree stores will close over the next several years at the end of each store’s current lease term. In the fourth quarter of 2023, we incurred $594.4 million of charges in connection with the store portfolio review. Additionally, we incurred a goodwill impairment charge of $1.07 billion and a trade name intangible asset impairment charge of $950 million. Details of these charges are provided in the Reconciliation of Non-GAAP Financial Measures at the end of this release.