SUFFOLK, Va. (WAVY) -- A company that has grappled with significant financial loss, changes of leadership, layoffs and store closures is now looking to make a comeback. Dollar Tree reports over $1.71 billion in losses; nearly 1,000 stores could close Dollar Tree announced a new store is opening in Suffolk on Thursday. The grand opening is set to take place at the new location on 1825 Holland Road at 8:30 a.m. Following the ribbon-cutting ceremony, attendees will have the opportunity to explore the store. The store's operating hours will be from 9 a.m. to 9 p.m. Monday through Sunday. The budget-friendly company, headquartered in Chesapeake, has taken heat in recent years as profits plummeted, leading to an announcement of 1,000 stores to close between the company's two chains, Dollar Tree and Family Dollar. Dollar Tree, Family Dollar to close 1,000 stores After changes to the CEO and the resignation of the Chief Financial Officer, the national chain also had mass layoffs at its headquarters. Recent implementation of tariffs by President Donald Trump could also impact the price of goods as the company prepares to raise prices should the need arise. Dollar Tree prepares to make changes amid Trump’s tariff plan ...read more read less