What happened to Family Dollar?

The Family Dollar chain filed for Chapter 11 bankruptcy protection in July 2017, amid intense competition from big box stores and the rise of online shopping. The company had been struggling for years with slow sales and heavy debt. In February 2018, the company announced that it would close 150 stores worldwide, including all of its stores in the U.S. The closure of the stores left nearly 1,000 employees out of a job.

In May 2018, the company announced that it would sell its Canadian operations to the Canadian Imperial Bank of Commerce for C$1.8 billion. As a result, the company emerged from bankruptcy in June 2018. However, the company’s future is still uncertain.

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