Doors will close at 1,000 Dollar Tree and Family Dollar locations after Dollar Tree announced unexpected losses in its fourth-quarter earnings report on Wednesday.

Dollar Tree plans to shutter 600 Family Dollar stores in the first half of fiscal 2024. Over the next several years, the company intends to close 370 more Family Dollar locations and 30 Dollar Tree stores.

Dollar Tree acquired Family Dollar for more than $8 billion in 2015 after a bidding war with rival Dollar General, but the company has had difficulty absorbing the chain.

On Wednesday, Dollar Tree said it would record a $950 million impairment against the trade name Family Dollar on top of a $1.07 billion goodwill charge.

Headquartered in Chesapeake, Virginia, Dollar Tree operates 16,774 stores throughout the 48 contiguous U.S. states and Canada, as of Feb. 3.