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From what I understand, a couple of years ago, DG was bought by a foreign company, and then underwent restructuring to remain solvent.
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On July 6, 2007, all shares of Dollar General stock were acquired by private equity investors for $22 per share. An investment group consisting of affiliates of Kohlberg Kravis Roberts (KKR), GS Capital Partners (an affiliate of Goldman Sachs), Citigroup Private Equity and other co-investors completed an acquisition of Dollar General Corporation for a total enterprise value of $7.3 billion.[8]
As a part of the transition to a privately held company, Dollar General assessed each location at the end of its lease against a model known as "EZ Stores". This assessment included evaluating whether the location had a loading dock, garbage dumpsters, adequate parking, and acceptable profitability. Stores that did not pass this evaluation were relocated or closed. Over 400 stores were closed as part of this initiative.[9]
In August 2009, the company announced it will file for an initial public offering, turning the company, again, into a publicly traded corporation.[10] Although the timing of the Initial Public Offering (IPO) was not announced by Dollar General or KKR, Dollar General filed on August 20, 2009 for an initial offering of up to $750 Million[11] The return of Dollar General to public ownership has been estimated to deliver up to a 30% increase in value to KKR over the two-year period it will have been private, making it a rare gem in KKR's current portfolio.
Dollar General for me is the cheap store I love to hate. I only buy certain items though. I guess you could say I'm helping the corporation and adding to their agenda. If I really could, I would boycott most dollars stores, but the Chinese junk is so cheap, it's hard to pass up a deal.
I avoid DG at all costs. They are headquartered within 10 miles of me-I know hq staff, and they spend lavishly on all hq staff benefits (all levels). I find that appalling as, iMO, they are not consistent with how they spend on store level employee benefits. WM, btw, is far more consistent on the issue of benefit levels. Conseqeuntly, I enjoy shopping at WM.
I have never been in a DG type of store. On the other hand, husband and daughter #2 love these places and return delighted to show me how they scored 550 birthday cake candles for $1.00
Lmao! Indeed. The employees that have it most together are the "greeters" at the entrance. A specific question about s product or service in a particular department is venerally met with deer in the headlights or an indifferent shrug.
Lowes and Home Depot are that way to. They are supposed to have "trade professionals" that can help you out buuuuuut, that's not really the case, most of the time. I used to tear my hair out Just looking for specialty tools. It was hard to find anyone who knew what a basin wrench is. Trying to explain what a closet auger is was an amusing interlude once to.
Well, if people stopped looking for the cheapest product they could find, there would still be small businesses with real professionals who know what they're doing. I am lucky in that my town still has a family-owned hardware store, and I go there precisely because I know they not only know their stuff, but will take the time I need to explain things to me. So if there are any still near you, maybe patronize them instead of the big box stores. I think our enabling of the demise of small businesses due to the rise of big box stores and our ever-increasing desire for the cheapest products is one of the worst ways we have shot ourselves in the proverbial foot as a society.
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