The 323 stores were part of a 330-store package sold to New York-based private equity firm Sycamore Partners Management LP in order for the merger to gain the approval of antitrust regulators at the Federal Trade Commission. The stores were slated to become Dollar Express outlets and were largely staffed by Family Dollar veterans, according to the Charlotte Observer. The newspaper cited unnamed store employees who said their last day of employment would be on or around June 2, and said none were being retained by Dollar General.
A Dollar General representative declined to comment on employment at the newly acquired stores, according to the Observer, which said up to 2,700 part-time and full-time employees around the country might be losing their jobs as ownership changes hands.
Terms of the new deal were not disclosed. It is subject to FTC approval.
Fast-growing Dollar General expects to add another 1,000 stores this year, taking its total past 14,000. Last year, the retailer added about 900 stores to its portfolio, including 42 Walmart Express outlets acquired after Walmart decided to drop that format.