Fast-Growing Dollar Store Chain Suddenly Announces It’s Closing Down
A new, fast-growing dollar store chain has abruptly found itself in a battle it cannot win with two national dollar store giants.
According to the Charlotte Observer, Charlotte-based Dollar Express, which has only been around for 18 months as a standalone company, has just announced it’s closing its impressive collection of 323 nationwide stores.
Dollar Express, which operates stores from coast to coast, only let its employees know last week that the company was likely going to be acquired by Tennessee-based Dollar General.
And it’s unclear if Dollar General will re-open any of the closed stores under its own name or rehire any of the soon-to-be-unemployed workers.
However, Dollar General did announce earlier this year that they were going to add 10,000 new jobs to fill 1,000 new stores, which may give Dollar Express employees a chance at re-employment.
Edward Jones research analyst Brian Yarbrough said the Dollar Express just didn’t have a way to distinguish itself from the much larger Dollar General and Dollar Tree chains. Dollar Tree acquired Family Dollar in 2014, further expanding its reach into almost all 50 states.
Dollar Express even looks eerily similar to Dollar Tree inside.
What do you think of this?