Dollar Tree has acquired leases for 170 stores previously owned by 99 Cents Only. The stores are located in Arizona, California, Nevada, and Texas. Dollar Tree will reopen these stores under its own brand and begin selling its products in the fall. The acquisition comes after 99 Cents Only filed for bankruptcy in April and closed all of its 370 locations. The move is seen as a consolidation in the retail industry. Dollar Tree aims to extend its presence on the West Coast and sees the acquisition as a cost-effective way to grow. However, the larger size of 99 Cents Only stores may present a challenge for Dollar Tree.
