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Dollar Tree acquires leases for 170 of 99 Cents Only’s stores — along with IP

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Dollar Tree
Dollar Tree is set to expand its footprint of stores in the Western United States.

Another ultra-value retailer is expanding its footprint with locations that formerly housed 99 Cents Only Stores.

Dollar Tree has acquired designation rights for 170 leases of bankrupt 99 Cents Only Stores across Arizona, California, Nevada and Texas. As part of the deal, Dollar Tree also acquired the North American intellectual property of the retailer and select on-site furniture, fixtures and equipment. The 99 Cents Only locations will be reopened as Dollar Tree stores as early as this fall.

"As we continue to execute on our accelerated growth strategy for the Dollar Tree brand, this was an attractive opportunity to secure leases in priority markets where we see strong profitable growth potential,” said Michael Creedon Jr., COO, Dollar Tree. “The portfolio complements our existing footprint and will provide us access to high quality real estate assets in premium retail centers, enabling us to rapidly grow the Dollar Tree brand across the western United States, reaching even more customers and communities.”

The deal was completed via two transactions in May that were approved by the United States Bankruptcy Court for the District of Delaware. B. Riley Real Estate served as exclusive real estate advisor to Dollar Tree on the transaction.


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99 Cents Only
In April, 99 Cents Only Stores filed for Chapter 11 bankruptcy.

In April, California-based 99 Cents Only Stores filed for Chapter 11 bankruptcy and subsequently initiated a process to dispose of its assets, including 371 stores in California, Texas, Arizona and Nevada. 99 Cents Only’s closure came a week after Bloomberg reported that the retailer was considering a bankruptcy filing amid a liquidity shortfall.

Last week, close-out retailer Ollie’s concluded the purchase of 11 former 99 Cents Only Stores locations through the United States Bankruptcy Court for the District of Delaware in a $14.6 million cash deal.

Dollar Tree, Inc. operated 16,774 stores across 48 states and five Canadian provinces as of Feb. 3, 2024, under the brands of Dollar Tree, Family Dollar and Dollar Tree Canada.

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