Dollar Tree to close Family Dollar HQ, offer relocation to 700 employees

Dollar Tree Inc. DLTR, -0.51% said it will close its headquarters facility in Matthews, North Carolina, as it continues to the integration of Family Dollar after the acquisition of the fellow discount retailer. Dollar Tree said the Family Dollar’s distribution center in Matthews will remain open. The company said it continues to consolidate store support centers in Matthews and Chesapeake, Virginia to Dollar Tree’s completed office tower in Chesapeake. The company said it offered about 700 employees opportunities to relocate. Family Dollar’s headquarters and the new Dollar Tree office building in Chesapeake are over 5 hours away by car, according to Google Maps. Dollar Tree’s stock was up 0.9% in morning trade. It has rallied 16% year to date, while the S&P 500 SPX, +0.45% has gained 8.4%.

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