Nearly 200 shuttered 99 Cents Only stores from Texas to California will be re-opened as Dollar Tree locations after the leases were secured out of bankruptcy proceedings. The transfer of designation rights for 170 locations in Texas, Arizona, Nevada and California, along with some of the furniture, equipment and fixtures inside, was approved by the United States Bankruptcy Court for the District of Delaware. Shares of Dollar Tree Inc., based in Chesapeake, Virginia, rose 2% at the opening bell Thursday.
Big oil just got bigger and shareholders could soon be getting richer.
Dollar Tree announced Wednesday it acquired leases for 170 of 99 Cents Only’s stores out of bankruptcy in Arizona, California, Nevada and Texas.