Family
Dollar is closing two of its four Springfield stores as part of nationwide
cutbacks for the discount retailer.
In March, the
parent company of Family Dollar and Dollar Tree stores announced it would close
approximately 1,000 locations across the U.S., citing inconsistent revenue due
to inflation. Profit expectations for the fourth quarter of 2023 fell short,
with a loss of $1.71 billion for the company.
The majority of the closings will be Family Dollar-branded locations, with 600 scheduled to close in the first half of 2024 and another 370 stores closing later. In addition, 30 Dollar Tree stores are slated for closure as the leases for those locations expire.
The company has 16,774 locations nationwide, with slightly over half of those branded as Family Dollar stores.
In
Springfield, the Family Dollar at 1425 E. Cook Ave. has already closed, while “store
closing” signage has appeared at 400 South Grand Ave. E. The other two Family
Dollar locations, 1155 N. Ninth St. and 1935 W. Monroe, don’t appear to be
affected.
An employee
at the South Grand store said it would close May 25 or when the remaining inventory
was depleted, whatever came first.
