Hundreds of Family Dollar Stores to Shut Down Approximately 390 U.S. stores will close their doors in 2019. The chain has struggled since 2015 when it was acquired by rival Dollar Tree. In a statement, Dollar Store management says the closings are apart of a plan to turn the chain around. Dollar Tree CEO Gary Philbin, via statement Over 1,000 Family Dollar stores are set to be renovated. Dollar Tree adds that some of its merchandise will begin to appear in Family Dollar stores. Hundreds of stores will also see their names changed to Dollar Tree.