Fred’s announced that it is about to close 159 stores with liquidation sales beginning now. The closures will affect numerous local stores
According to reports sales fell 4.9% during the first nine months of 2018 at Fred’s locations – ultimately leading to what will be the closing of some 29% of their stores, in an attempt to re-group and restructure. Stores will be closing across a total of 13 states, and are expected to be shuttered by the end of May.
The stores, which are spread across states including Texas, Arkansas, Alabama, Georgia, Louisiana, Mississippi, Kentucky, and Tennessee, were chosen because they were underperforming or nprofitable, Fred’s Chief Executive Officer Joseph Anto said. Many of them had leases that were expiring soon.
Local store closings:
Centre: 710 Cherokee Place
Calhoun: 325 Curtis Parkway S
Cedartown: 550 N Main Street
Rome: 1916 Redmond Circle NW