Dozens of closed 99 Cents Only locations across Arizona, California, Nevada and Texas could reopen as Dollar Tree stores.
The bargain retailer confirmed Wednesday that it acquired the rights for 170 of the 99 Cents Only stores across the four states.
The deal to acquire the store leases was completed through two transactions in May.
“As we continue to execute on our accelerated growth strategy for the Dollar Tree brand, this was an attractive opportunity to secure leases in priority markets where we see strong, profitable growth potential,” Michael Creedon, Jr., Dollar Tree’s chief operating officer, said in a statement.
“The portfolio complements our existing footprint and will provide us access to high-quality real estate assets in premium retail centers, enabling us to rapidly grow the Dollar Tree brand across the western United States, reaching even more customers and communities.”
Dollar Tree hopes to welcome 99 Cents Only customers to the re-opened locations as early as this fall.
In April, 99 Cents Only Stores announced that it would close all its locations, citing financial difficulties stemming from the pandemic, changing consumer demand and rising inflation.
The popular discount stores were famous for their wide variety of items at discount prices, including household goods, fresh groceries, snacks, office supplies, health and beauty products, party supplies and more.
Dollar Tree didn’t specify which locations in California would reopen; 99 Cents Only had locations throughout the Golden State including in Sacramento, San Jose, Los Angeles, Bakersfield and San Diego.
Dollar Tree currently operates nearly 17,000 stores across 48 states and five Canadian provinces.
