Dollar Tree, reporting a fourth-quarter loss, announced it would close nearly 1,000 Family Dollar stores, writes Michelle Chapman for The Philadelphia Inquirer.

Dollar Tree plans to close about 600 stores in the first half of 2024 and 370 Family Dollar and 30 Dollar Tree stores over the next several years.

It is not known if any Delaware County stores are affected. The stores are in Lansdowne, Darby, Upper Daby, Aldan, Sharon Hill, Holmes, and Folcroft.

Dollar Tree has seen a loss in value in Family Dollar, which it purchased in 2015 for $8 billion.

“This dramatic cull is the coup de grâce in the rather botched acquisition of the Family Dollar chain, which has caused Dollar Tree nothing but hassle since it was completed back in 2015,” wrote Neil Saunders, managing director of GlobalData.

About 12 percent of current stores will close over the next three years.

Closing or rebranding stores will cost more than $594 million, erasing holiday season profits.

Dollar Tree has actually been drawing in more customers looking for ways to cut spending and fight inflation.  

Read more about the financial health of Dollar Tree and how the Family Dollar purchase impacted the discount retailer in The Philadelphia Inquirer.