It's no secret that the Family Dollar stores in Pine River and Pequot Lakes are closing; and for once, the word on the street about their futures is relatively accurate.

Pine River residents will have one less store in town as soon as mid-May when the Family Dollar on the corner of Barclay Avenue and Highway 371 is expected to close. In Pequot Lakes, as many have heard, the store will become a Dollar Tree.

"The location will briefly close within the next few weeks and is scheduled to re-open as a Dollar Tree store on Thursday, May 23," said Kayleigh Painter, media relations contact with Dollar Tree and Family Dollar.

In addition to local closure and rebranding, the company has other plans for its stores throughout the country.

"We are optimizing our real estate portfolio by opening 550 new stores this year (including 350 Dollar Tree and 200 Family Dollar stores), all while renovating 1,000 Family Dollar stores, re-bannering 200 Family Dollar to Dollar Tree stores and closing as many as 390 Family Dollar locations," Painter said. "We are working with associates impacted by the closures to retain their employment status at neighboring stores."

The Dollar Tree company completed its purchase of the Family Dollar company in 2015, since which time the stores have been operating under the brands Dollar Tree, Family Dollar and Dollar Tree Canada. The company released documents detailing its plan to close some stores and rebrand others on March 6.

Both Pine River and Pequot Lakes are also home to Dollar General stores.