(SRN NEWS/REUTERS) – Dollar Tree said on Wednesday it will sell its Family Dollar business to a consortium of private-equity investors for about $1 billion, as the struggling discount-store chain looks to restructure its business and cut costs. An internet search shows there are five Family Dollar stores in Hall County.
The discount-retail chain, which Dollar Tree bought in 2015 for about $9 billion, will be acquired by Brigade Capital Management and Macellum Capital Management.
Shares of Dollar Tree were up 6% in premarket trading.
The company, which is in the midst of a restructuring, first said in June it was exploring options, including a sale, for its Family Dollar business, as it struggled with competition from big-box retailers such as Walmart, and online retailers including Amazon, Shein and Temu.
