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The Family Dollar and Dollar Tree store in downtown Salem is closing less than two years after it first opened.

Dollar Tree is selling Family Dollar for drastically less than it paid to buy it. The pace of Family Dollar store closures could increase once the chain is sold to its private equity acquirers.

Dollar Tree’s decade-long effort to fold the Family Dollar chain into its business is ending after agreeing to sell the bargain store chain to a pair of private equity firms for $1 billion.

Dollar Tree is selling Family Dollar to private equity firms Brigade Capital Management and Macellum Capital Management for approximately $1 billion.

Dollar Tree is selling off its Family Dollar stores for about $1 billion in a move the company says strengthens both companies.

Dollar Tree is calling it quits with Family Dollar and plans to close nearly 1,000 locations. Here’s what’s going down in the discount aisle.

Dollar Tree on Wednesday said it has reached a deal to sell its Family Dollar brand to a pair of private-equity firms for $1 billion.