Fred’s, a Memphis-based discount chain, will close an additional 49 underperforming stores in its third round of closings as it continues to evaluate its store portfolio. The pharmacies inside the closed stores will remain open, according to a company statement.
The retailer has closed 312 stores since April, or 56% of its store base. The latest liquidations are expected to conclude June 29, leaving 244 operating locations remaining. SB360 Capital Partners is currently managing the store closures and liquidation.
The most recent closures will affect eight states: Alabama, Arkansas, Georgia, Kentucky, Louisiana, Mississippi, South Carolina and Tennessee.
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