Massachusetts retailers shutting down due to poor performance seems to be the norm these days. Retailers like Macy’s, Walgreens, CVS, and more have all had to close their doors at some of their stores in order to keep the companies from going out of business. Another retailer is planning on shutting some more stores in 2025.
According to various websites, the discount retail chain Family Dollar will be shuttering 370 stores this year. Money Talks News reports that a couple of the reasons behind the upcoming closures include reduced SNAP benefits in low-income communities and small margins, having an impact.
This isn’t the first round of closures for Family Dollar. The discount retailer’s parent company Dollar Tree, closed 600 stores in 2024. According to Wikipedia, in June 2024 it was reported that Dollar Tree was in discussions to potentially spin off or sell, Family Dollar due to poor financial performance for the chain. As of December 2024, such a spinoff or sale has not occurred…