A U.S. Bankruptcy Court in Delaware has approved the transfer of designation rights for the leases of 170 shuttered 99 Cents Only outlets to industry giant Dollar Tree.
The 170 stores, located in Texas, Arizona, Nevada and California, will be reopened later this year as Dollar Tree outlets, Dollar Tree announced. More than a third of the locations acquired by Dollar Tree are in Southern California.
As part of its winning bid, Dollar Tree also acquired the North American Intellectual Property of 99 Cents Only Stores and select on-site furniture, fixtures and equipment.
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