At a time when conven-ience and discount stores are thriving, North Carolina-based Family Dollar faces lagging sales and the threat of a buyout.

Sales have been falling, according to the company's latest financial report, and the discount retailer has announced plans to close hundreds of stores, according to Forbes.

Some analysts have speculated that the poor performance ultimately could lead to new management of the company or even a merger with another retailer such as Dollar General or even industry kingpin Wal-Mart, which is in the midst of rolling out smaller format stores across the country.

All three chains have multiple locations all over the Charleston region.

Carl Icahn, a well-known activist investor who presses boards for changes, said recently that he bought 9.4 percent of the company, according to the Charlotte Observer.

Family Dollar then adopted a measure that is often referred to as a "poison pill." In the case of a buyout, shareholders of Family Dollar would have a right to twice the price of shares in the acquiring company.

The plan, according to a company statement, "is not designed to prevent an offer to acquire the company, but rather to allow the board adequate time to consider any and all alternatives."

Shaking up

Hwy 55 Burgers, Shakes & Fries, a fast-casual diner chain based in Mount Olive, N.C., has its first Charleston area restaurant in the works. The new burger spot will open in North Charleston in the Palmetto Pavilion shopping center at 8409 Dorchester Road.

Those familiar with the North Carolina restaurant may have known it as Andy's Burgers Shakes & Fries. The chain changed its name to Hwy 55 a few years ago when it started expanding across the Southeast because "Andy's" was already trademarked, according to the company's website.

Coming soon

Tees by Tina, a national women's retailer that specializes in basic knit apparel, has announced an opening for its store on lower King Street.

The store, which will replace the former Juicy Couture shop at 278 King St., plans to be open the first week of July, according to King Street Marketing Group.

Reach Abigail Darlington at 937-5906 and follow her on Twitter @A_Big_Gail