Dollar Tree to close 1,000 stores after ‘botched’ Family Dollar takeover

Dollar Tree acquired Family Dollar for more than $8bn almost a decade ago but has had difficulty absorbing the chain

Dollar Tree will close nearly 1,000 stores and swung to a surprise fourth-quarter loss as the discount retailer took a related $1.07bn goodwill impairment charge.

Shares tumbled 15% before the opening bell on Wednesday.