CARIBOU, Maine — Six Dollar Express stores that have been operating in Maine as Family Dollar stores are closing by June 30, according to several media reports.
Dollar General is acquiring more than 300 Dollar Express stores around the country and may reopen some at a later date, according to the Detroit Free Press. It is unclear how many employees in Maine are affected.
When Dollar Tree acquired Family Dollar in November 2015, the Federal Trade Commission required the company to sell 323 stores to Dollar Express, according to Randy Guiler, Dollar Tree’s vice president of investor relations.
The new stores, owned by Sycamore Partners, a private equity group from New York, were in the process of being changed over to Dollar Express, but still featured the Family Dollar sign on the building front, according to Guiler.
“The store in Caribou, like the other five in Maine, is owned and operated by Dollar Express,” said Guiler, “even though it still has the Family Dollar name outside.”
Now, Dollar General is buying Dollar Express.
In addition to Caribou’s store, Guiler said, the purchase affects discount stores in South Portland, Gray, Waterville, Livermore Falls and Old Town.
“Dollar General will be taking over those Dollar Express locations,” Guiler said, adding that Dollar Express is responsible for closing the stores and laying off employees, not Dollar Tree.
Guiler said there is a possibility that the Maine stores could reopen as Dollar General, in the same location or otherwise. Attempts to reach officials with Dollar General and Dollar Express on Tuesday were unsuccessful.
Dollar General ultimately lost out on the 2015 bid for Family Dollar, despite offering a higher amount of money, according to the Wall Street Journal. Family Dollar’s shareholders approved Dollar Tree’s lower bid, because they perceived greater risk with Dollar General’s potential acquisition.
