Family Dollar to close nearly 400 stores

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Family Dollar will be closing nearly 400 of its stores this year, according to a release by the company.

“We are confident we are taking the appropriate steps to reposition our Family Dollar brand,” CEO Gary Philbin wrote.

The company sells a variety of cheap items under $10 in a variety of rural and urban locations. Dollar Tree bought the company in 2015.

The parent company will also rebrand an additional 200 Family Dollar locations as Dollar Tree stores. 

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