Fred’s, Inc. will close an additional 49 underperforming stores as part of an ongoing effort to optimize store footprint, company officials said. Pharmacies at the locations will remain open.
According to the company, the decision to close additional underperforming stores follows a continued evaluation of the retailer’s store portfolio, including historical and recent store performance and the timing of lease expirations, among other factors.
Stores in seven states are slated for closure: Georgia, Mississippi, Arkansas, Tennessee, Louisiana, South Carolina and Kentucky.
Fred’s will continue its partnership with Malfitano Advisors, LLC and SB360 Capital Partners to help manage the process and ensure a seamless experience for customers.