Thursday, April 11, 2019

Fred’s to close 159 stores; hires advisory firm

Chain Store Age
Fred’s Inc. is shuttering nearly 30% of its store fleet as part of its plan to turn around its ailing business.

The Memphis-based discounter plans to close 159 stores by the end of May, with the liquidation sales starting on April 11. Fred’s has partnered with Malfitano Advisors and SB360 Capital Partners to help manage the closings, which will leave the retailer with a total of 398 locations.. . . more