New Charlotte-Based Retailer About To Close All 323 Of Its Stores Nationwide

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dollar-general-buying-dollar-expressThe Dollar General just announced that it is buying the entire North Carolina-based Dollar Express Company and plans on shutting down or re-branding all 323 stores in the chain.

Dollar Express is the first dollar-store chain owned by Sycamore Partners – who also Belk, Coldwater Creek, Hot Topic, and others. The private equity firm quietly purchased 323 Family Dollar stores in August of 2015, and was working on plans to re-banner the stores from Family Dollars to Dollar Expresses before their recent decision to give up and sell to the Dollar General.

According to their recent sale application with the FCC, Sycamore Partners noted that Dollar Express “can no longer operate as a viable standalone business” due to “changes in competitive conditions since the purchase.”

The employees at the two Charlotte-area Dollar Express stores (1437 E. Sugar Creek Road and 5300 South Blvd) will most likely lose their jobs after the stores are sold and shut down.

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