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family dollar

Dollar Tree is set to buy its discount competitor Family Dollar for approximately $9 billion. Sources say bargain stores took a big hit in the recession, which led to job loss.

Family Dollar officials say the company tried to stay afloat by lowering prices on over 1,000 items.

dollar tree

According to CNBC, the sale will put tension on bigger retails discount stores, like Walmart. Last month a Family Dollar investor put the chain up for sale.

The deal will now give Dollar Tree ownership of over 13,000 stores in U.S. and Canada. Dollar Tree expects to generate retail sales over $18 billion between the two brands.

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