In the latest legal snarl in an ongoing dollar-store drama, Virginia-based Dollar Tree alleges Charlotte-based discount chain Dollar Express and its owners siphoned off funds and failed to pay Dollar Tree over $50 million for goods and services.
Private equity group Sycamore Partners started the Dollar Express chain when it bought roughly 330 stores from Matthews-based Family Dollar in 2015. Virginia-based Dollar Tree was required to sell the Family Dollar-branded stores for antitrust reasons in order to buy the local chain.
Dollar Tree filed its lawsuit last week in Delaware Chancery Court but it wasn’t unsealed until this week.
In another legal volley, Dollar Express filed its own suit last week in which the company alleged Dollar Tree and Family Dollar sabotaged Dollar Express’ business by hiring and promoting unqualified workers, and opening new Family Dollar-branded stores in close proximity to Dollar Express.
In a statement sent to the Observer, Dollar Tree said that it “had nothing to do” with Sycamore’s failure to make Dollar Express a viable business.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Pfizer Settles Remaining Effexor XR Antitrust Claims for $25.5 Million
Apr 29, 2024 by
CPI
South Korean Regulator Approves LG Uplus and Kakao Mobility EV Charging Venture
Apr 29, 2024 by
CPI
Federal Judge Dismisses Doctors’ Antitrust Suit Against Ohio Health System
Apr 29, 2024 by
CPI
Paramount CEO Bob Bakish Steps Down as Merger Inches Closer
Apr 29, 2024 by
CPI
EU Brands Apple’s iPadOS as Gatekeeper in Tech Crackdown
Apr 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI