Family Dollar is the latest victim of what experts are calling the "retail apocalypse". The company has announced plans to close nearly 400 stores.

According to CNN, Family Dollar was purchased by Dollar Tree, but has struggled to stay profitable.

Now, parent Dollar Tree has announced a plan to close 390 stores across the United States, and significantly change the stores that remain open. Changes will include "re-brand some locations as Dollar Tree, and renovate others with $1 Dollar Tree merchandise sections."

As of yet, the company has not announced which stores will be subject to closure.

Family Dollar is the latest in a string of store closure announcements that have or, at the very least, have the potential to impact Central New York: Charlotte Russe, Payless Shoes, Victoria's Secret, Gap, and JCPenney have all announced plans to close hundreds of stores.

More From Lite 98.7