Dollar Tree Secures Leasing Rights for Group of 99 Cents Only Stores Locations

Dollar Tree has successfully secured the leasing rights to 170 locations previously operated by 99 Cents Only Stores in key states including Arizona, California, Nevada, and Texas. This acquisition, finalized through two transactions in May and approved by the U.S. Bankruptcy Court for the District of Delaware, allows Dollar Tree to expand its footprint significantly.

Along with the leases, Dollar Tree also obtained the North American intellectual property of 99 Cents Only Stores and select furniture, fixtures, and equipment from the locations. This comes after 99 Cents Only filed for bankruptcy in early April, announcing its intention to close all 371 of its stores by the end of May due to financial distress. The company cited insufficient assets to fund its wind-down operations, and its creditors, including unpaid payroll, have millions in outstanding liabilities.

With this acquisition, Dollar Tree is poised to further extend its reach, having already operated over 8,200 stores in the U.S. as of mid-May 2024.