JAMESTOWN, N.D. (NewsDakota.com) – Nearly 400 Family Dollar stores nationwide will be shutting down, including the Jamestown location.

Dollar Tree, the company that owns Family Dollar, is closing around 390 stores that are underperforming. Plans for other Family Dollar stores is to rebrand them into Dollar Tree stores.

Dollar Tree will look to renovate a total of 1,000 of their locations.

“Since the merger, we have prepaid $4.3 billion dollars of debt, captured significant synergies in both brands, and fully integrated most systems, functions and departments across banners,” Gary Philbin, President and CEO of Dollar Tree, said in a statement. “By July, we will complete the most important phase: unifying our headquarters under one roof in Virginia.”

Dollar Tree previously closed 122 Family Dollar stores in the fiscal year that ended Feb. 2, with 84 stores closing in the fourth quarter, 37 more than initially planned.

“The [Jamestown] store is scheduled to close in mid-May,” states Kayleigh Painter, Manager, Investor and Media Relations. “We are optimizing our real estate portfolio by opening 550 new stores this year. We are working with associates impacted by the closures to retain their employment status at neighboring stores.”