WOODSTOCK – The Family Dollar store in Woodstock will be closed by Aug. 30 as the discount store operator tries to boost sales and earnings.
Family Dollar Inc., based in Matthews, North Carolina, plans to the close the Woodstock store and 20 other underperforming stores in Illinois. In April, the company said it would cut jobs and close 370 underperforming stores.
“Family Dollar is taking decisive action to position the company to be more successful in an adverse operating environment,” spokesperson Bryn Winburn wrote in an email to the Northwest Herald. “The company conducted a comprehensive business review to identify opportunities to provide customers with more value, increase operational efficiency and improve financial performance. As part of this review, Family Dollar identified 370 (of 8,246 stores) that do not meet our profitability requirements. As a result, we have decided to close these underperforming stores.”
Each store has between 8 and 10 employees. The company is working to reassign affected employees to nearby stores, Winburn said.
The Family Dollar in Woodstock is at 420 S. Eastwood Drive.