The company says its insurers “turned their backs on us" as it tried to recover from store closures due to the COVID-19 pandemic.
The discounter's in-store sales only business model left it unable to weather the fallout from the coronavirus pandemic.
The discount retailer's shares fell more than 16% after it cut its outlook for the holiday season due in part to tariff costs.
The discount retailer's shares fell more than 15% after its earnings came in one cent below analysts' estimates.
The merger clears the final regulatory hurdle after the discount retailers agree to sell 330 Family Dollar stores.
If Dollar General's offer is accepted, the combined company would have 20,000 stores, $28 billion in sales and a lot of leverage.
