Dollar Tree announced on Wednesday that it will sell Family Dollar for $1 billion dollars, they initially acquired the storefront for more than $8 billion.
Dollar Tree cited issues with supply chains, operations and locations as their reason to sell. Family Dollar will be sold to a pair of private equity firms. Last year, Dollar Tree Inc. announced that it planned to close hundreds of Family Dollar stores.
Family Dollar was sold at $8 billion due to a bidding war between Dollar Tree and Dollar General.
