Fred’s announced on Thursday that they are closing an additional 104 stores on top of the 159 they announced are closing earlier this year.
Among those stores is the Fred’s in Corinth.
Fred’s decision to close additional underperforming stores follows a continued evaluation of the Company’s store portfolio, including historical and recent store performance and the timing of lease expirations, among other factors. Liquidation sales at the 104 stores designated for closure will begin today while the Company’s other stores will remain open.
Joseph Anto, Fred’s Chief Executive Officer, stated, “These additional store closures are a difficult, but necessary step in the continued restructuring of Fred’s.”
Fred’s intends to close all 104 impacted stores by the end of June 2019