08:54 AM EDT, 05/29/2024 (MT Newswires) -- Dollar Tree ( DLTR ) said Wednesday it had acquired the rights for 170 leases of 99 Cents Only Stores in Arizona, California, Nevada, and Texas.

The deal, approved this month by the US Bankruptcy Court in Delaware, also includes acquisition of the intellectual property of 99 Cents Only Stores as well as some furniture and equipment at the stores, the discount retailer said.

99 Cents Only Stores filed for Chapter 11 bankruptcy in April.

Dollar Tree's ( DLTR ) chief operating officer, Michael Creedon Jr., said the acquisitions complement the company's footprint and provide "access to high quality real estate assets in premium retail centers" in the western US. The newly acquired locations will begin operating as Dollar Tree ( DLTR ) stores as early as fall 2024, the company said.

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