Gladbrook’s Family Dollar store shutters in wake of private equity takeover
Independent grocer Hometown Family Market continues to anchor the community
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GLADBROOK - After opening three and a half years ago on the southern edge of the community, Gladbrook's Family Dollar has closed its doors.
"Gladbrook Family Dollar is closing! Everything must go! After serving the Gladbrook community, our store is officially closing - which means big savings throughout the store!" an announcement proliferating on social media proclaimed late last month.
The store held its grand opening in April 2023 as a Dollar Tree/Family Dollar store. Some two years later, in July 2025, Dollar Tree, Inc. sold its Family Dollar business segment to two private equity firms, according to a Dollar Tree press release. Per a July 2026 report by the business magazine Inc., "Since going private, Family Dollar has been closing stores at a striking pace." The article references a recent analysis identifying at least 350 permanent Family Dollar closures taking place across the United States between July 2025 and May 2026.
"Company leaders have cited a tough economic climate; reduced government assistance, such as lower SNAP benefits; and shrinking customer purchases as the main drivers behind the cuts," the article further states.
The newspaper attempted to contact the local Family Dollar via telephone several times last week, but was always met with a busy signal. A call made this past Monday also resulted in a busy signal. A Facebook message sent to now-former store manager Josh Garrison confirmed the store closed Oct. 10. He did not provide a response to the newspaper's questions regarding the fate of the building and the store's former employees, nor the reasoning behind the closure.
Per a social media post made by Garwin resident and presumably now-former Gladbrook Family Dollar employee Heather Wegner Warren on Sunday, Oct. 4, the store may soon house a different discount chain.
"I decided to post here to answer some questions we get from the community numerous times a day," Warren wrote before listing four bullet points, including, "We found out a few days ago that a Dollar General is going in where we are currently located. / We do not know an opening date. / We are closing due to 'unfavorable lease conditions,' Family Dollar does not own the property. / We are not automatically given jobs. If any of us have interest in working for [Dollar General], we have to go through the application process just like anyone else. They are an entirely different company."
The newspaper contacted Gladbrook City Hall this past Tuesday and was told the city has not been provided any information by Family Dollar regarding the closure. Additionally, the city has received no information regarding Dollar General moving into the community.
The now-shuttered Family Dollar building is located at 707 East Street on the northeast corner of Iowa 96 and T47. According to online real estate records, the bare lot was sold by an LLC connected to Luethje Auto Sales to Ridge Investment Group LLC in late 2021.
In May 2023, MDC Coast 20, LLC bought the property and the recently constructed Dollar Tree/Family Dollar building for more than $1.8 million. MDC Coast 20 is part of Realty Income Corporation, a real estate investment trust (REIT) headquartered in San Diego and publicly traded on the New York Stock Exchange. Dollar Tree/Family Dollar had been one of Realty Income's largest tenants, behind Walgreens and Dollar General, according to June 2024 U.S. Securities and Exchange Commission documents disseminated by Wikipedia.
Gladbrook's independent grocer
Earlier this month, the newspaper reached out to the owners of Gladbrook's only independent grocery store, Hometown Family Market/Hometown Foods (HFM), regarding the Family Dollar closure. HFM is located in downtown Gladbrook across from City Centre and has been an anchor in the community for years. As many of Gladbrook's Main Street businesses have shuttered, including Gladbrook Family Pharmacy which closed in late September 2024 roughly a year after MercyOne pulled out of town, HFM has managed to hold on.
"The closing of any local business is a reminder of how important it is to support the businesses we still have in our community," HFM co-owner Tandi Davis told the newspaper in a recent email exchange. "As a locally owned grocery store, we understand firsthand the challenges that inflation and rising costs have placed on both businesses and families. We want to remind residents of the important role that locally owned businesses play in keeping small communities strong. A hometown grocery store provides more than convenience. It gives residents local access to fresh produce, meat, dairy products and everyday necessities while helping elderly residents and those with limited transportation avoid traveling to larger communities. Having essential goods available locally can also be especially valuable during severe weather and emergencies."
As rural consolidation continues to rip through Iowa at an astounding pace, having an independent grocery store in a town of less than 800 people is becoming something of a unicorn. Per the Inc. article published this past July about the Family Dollar closures, "In many communities, particularly rural ones, Family Dollar serves as a lifeline for people trying to save money on groceries and other everyday essentials. But as the chain shutters hundreds of locations across the country, those same communities are increasingly left without an affordable retailer."
In the nearby Tama County community of Dysart, independent grocer Bobby's Grocery & BBQ shuttered this past spring after mounting a nearly two-year effort to remain in business, leaving the community with only a Dollar General for grocery items. Davis told the newspaper she is extremely grateful for those customers who continue to shop at HFM.
"Every grocery purchase and word-of-mouth recommendation truly makes a difference to our small business and helps us continue serving our community. We know there are many choices when it comes to where you shop, and we simply ask our community to remember the importance of keeping their dollars local whenever possible. When you support a local business, you are supporting local jobs, local families, and the future of our community," she said.
In the days and weeks ahead, as Gladbrook goes without a discount store and rumors of Dollar General continue to swirl, Davis said her business will continue as an anchor in the community.
"We are committed to being here for Gladbrook and the surrounding communities and providing the products, service, and personal connection that come with being your hometown grocery store. We sincerely appreciate everyone who has supported Hometown Family Market over the years, and we hope our community will continue to support all of the local businesses that make Gladbrook special."
For more information about Hometown Family Market, shoppers are encouraged to check out the business's weekly ads, either via Facebook or at myhometownfamilymarket.com.