99 Cents Only stores in Texas may soon morph into Ollie’s Bargain Outlet or Dollar Tree stores as competitors of the California-based retailer find discounted real estate in the bankruptcy liquidation.
Ollie’s Bargain Outlet has agreed to pay $14.6 million for 99 Cents Only leases and owned stores in Texas. Dollar Tree will pay more than $1.3 million to assume leases in three states including Texas.
Together the two chains will control 18 former 99 Cents Only stores in the state.
Ollie’s is the stalking horse bidder and others could present a higher price for the stores. California-based 99 Cents Only filed for bankruptcy last month in Delaware and said it decided to close its 371 stores “after extensive analysis of all available and credible alternatives to identify a solution.”
The sale of the 11 stores in Texas is expected to be approved by the bankruptcy court by June 7, according to a court filing. The stores are in Dallas, Duncanville, Conroe, Houston, Humble, McAllen, Pasadena, Rosenberg and San Antonio.
Harrisburg, Pa.-based Ollie’s Bargain Outlet entered the Texas market in 2018 when it opened in a former Toys R Us on Town East Boulevard in Mesquite. Ollie’s now has more than 35 stores throughout Texas.
Dollar Tree is purchasing 58 stores, mostly in California. Seven are in Texas including one each in Arlington and Mesquite.
Dollar Tree said in March that it expects to shutter about 600 Family Dollar stores in the first half of this year and close an additional 370 Family Dollar and 30 Dollar Tree locations as their leases expire.
99 Cents Only stores being purchased by Ollie’s:
- 4980 N. Highway 6, Houston
- 2516 Avenue H, Rosenberg
- 1420 Loop 336, Conroe
- 3632 Frankford Rd., Dallas
- 10702 Easttex Freeway, Houston
- 4849 FM 1960 West, Houston
- 2346 W. Nolana Ave. McAllen
- 401 E. Camp Wisdom Road, Duncanville
- 7130 FM 1960 Road, Humble
- 4100 Fairmont Parkway, Pasadena
- 2942 Thousand Oaks Drive, San Antonio
99 Cents only stores purchased by Dollar Tree:
- 908 E. Pioneer Parkway, Arlington
- 3330 N. Galloway Ave., Mesquite
- 3111 N. Fry Road, Katy
- 216 FM 1960, Humble
- 9333 Stella Link Road, Houston
- 11873 Bissonet, Houston
- 5550 North Freeway, Houston
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