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Dollar Tree purchases rights to 170 commercial leases out of 99 Cents Only Stores' chapter 11 cases

Dollar Tree purchases rights to 170 commercial leases out of 99 Cents Only Stores' chapter 11 cases

May 2024

Client(s) Dollar Tree, Inc.

Jones Day advised Dollar Tree, Inc. regarding its purchase of the designation rights to 170 commercial leases held by 99 Cents Only Stores, LLC, a chapter 11 debtor. A purchaser of designation rights is permitted to instruct the debtor to assume and assign the commercial lease to the purchaser pursuant to section 365 of the Bankruptcy Code. The transaction allows Dollar Tree to open new locations in any of the 170 locations it chooses. Dollar Tree, Inc. also purchased certain of 99 Cents Only Stores' intellectual property as part of the transaction.

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