The discount retail giant confirmed on Wednesday that it has secured the rights for 170 locations across Arizona, California, Nevada, and Texas, with a majority of them situated in Southern California.

The deal to acquire the leases for these stores was finalized through two transactions that took place in May. This development comes after 99 Cents Only, citing the impact of the ongoing pandemic, shifting consumer demand, and inflation, announced its closure of over 300 stores and their subsequent bankruptcy filing in April. During the liquidation sales, shelves quickly emptied out as customers flocked to these stores for discounted items.

While Dollar Tree had previously revealed plans to close nearly a thousand locations, including some Family Dollar stores, this acquisition signifies a change in strategy. Michael Creedon, Jr., Chief Operating Officer of Dollar Tree, commented on the move, stating, "As we continue to execute on our accelerated growth strategy for the Dollar Tree brand, this was an attractive opportunity to secure leases in priority markets where we see strong profitable growth potential."

The list of acquired stores, posted online by Bill Read, an executive vice president at the commercial real estate firm Retail Specialists, highlights Dollar Tree's success in winning bids for specific 99 Cents Only locations. Most of these stores are situated in various Southern California cities, such as Burbank, Long Beach, Lancaster, Santa Ana, and North Hollywood.

Unfortunately, Dollar Tree was unable to provide an official list of the stores it has acquired. However, with the news of their acquisition, many Southern California residents can look forward to the reopening of these previously closed 99 Cents Only stores under the Dollar Tree brand.