- Discount retailer Fred's is closing another 104 stores across 13 states in a bid to cut costs.
- The Memphis-based chain says liquidation sales are under way at stores set to shut by the end of June.
- Regional retailer's announcement comes a month after it said it would shut 159 stores.
Regional retailer Fred's is closing another 104 stores in 13 states by the end of June. The 72-year-old discount chain's announcement follows. After the second round of liquidation sales and closures in complete, Fred's will have just over 300 locations still in operation.
"These additional store closures are a difficult, but necessary step in the continued restructuring of Fred's," CEO Joseph Anto said in a statement on Thursday.
The Memphis-based company said the closures involve stores in Alabama, Arizona, Florida, Georgia, Illinois, Kentucky, Louisiana, Missouri, Mississippi, North Carolina, South Carolina, Tennessee and Texas. (See the full list of stores holding liquidation sales below.)
The chain started off the year with 557 stores, mostly in the southeastern U.S., and has retained a financial adviser to explore options that often include a restructuring or potential sale. Walgreen's bought Fred's pharmacy patient prescriptions files and inventory in 2018.
The company's shares have plummeted more than 80 percent since Fred's scrapped its bid to buy 1,200 Rite Aid drugstores in 2017, and currently are trading under a buck, putting the company in danger of being delisted by Nasdaq.
Fred's earlier this month reported net sales fell 17.2 percent in the fourth quarter and 8.9 percent for the fiscal year.
Stores to close:
- Aliceville: 105 Memorial Parkway West
- Ashville: 35360 U.S. Highway 231
- Dothan: 2146 S Oates St.
- East Brewton: 802 Forrest Ave.
- Eclectic: 1734 Kowaliga Road
- Hanceville: 802 Main St. NE
- Prattville: 715 E Main St.
- Robertsdale: 17870 Baldwin Farms Place
- Augusta: 1302 Highway 64 E
- Greenbrier: 57 S Broadview St.
- Haskell: 6027 Highway 67
- Jacksonville: 428 S James St.
- Jonesboro: 4212 E Johnson Ave.
- Little Rock: 15700 Arch St.
- Magnolia: 406 W Main St.
- Malvern: 110 N Main St.
- Marion: 2695 State Highway 77 S
- Marshall: 1002 Highway 65 N
- Mayflower: 652 Highway 365
- Melbourne: 609 East Main St.
- Monticello: 406 Highway 425 S
- Pea Ridge: 198 N Curtis Ave.
- Pine Bluff: 1701 Commerce Road
- White Hall: 8515 Dollarway Road
- Green Cove Springs: 1435 S Orange Ave.
- Live Oak: 1535 Ohio Ave. S
- Milton: 6522 Caroline St.
- Albany: 1001 N Slappey Blvd.
- Baxley: 875 S Main St.
- Colbert: 15 Colbert Business Parkway W
- Conyers: 425 Sigman Road NW
- Douglas: 813 Bowens Mill Road SE
- Dublin: 122 Hillcrest Parkway
- Jesup: 650 W Cherry St.
- Leesburg: 118 Robert B Lee Drive
- Macon: 6109 Houston Road
- Moultrie: 2601 S Main St.
- Ocilla: 224 E 4th St.
- Rome: 3233 Martha Berry Highway NW
- Thomaston: 1090 Highway 19 N
- Tifton: 1442 Tift Ave. N
- Valdosta: 4401 Bemiss Road
- Breese: 6 N 4th St.
- El Dorado: 1021 Highway 45 North
- Munfordville: 1181 Main St.
- Springfield: 1117 Lincoln Park Road
- Bastrop: 2017 E Madison Ave.
- Bossier City: 1882 Airline Drive
- Marksville: 306 Moreau St.
- Monroe: 1701 N 18th St.
- Moss Bluff: 899 N Highway 171
- Ruston: 7616 Highway 80
- Tioga: 4828 Shreveport Highway
- West Monroe: 2615 N 7th St.
- West Monroe: 207 Washington St.
- Amory: 905 Highway 278 E
- Brandon: 1898 Spillway Road
- Brookhaven: 964 Brookway Blvd.
- Clinton: 200 Clinton Blvd.
- Corinth: 2040 E Shiloh Road
- Crystal Springs: 25096 Highway 51
- Hattiesburg: 5266 Old Highway 11
- Hazlehurst: 140 Trade Center Ln
- Hernando: 6 E Commerce St.
- Moss Point: 7833 Highway 613
- Oxford: 1930 University Ave.
- Pearl: 5760 Highway 80 E
- Sardis: 401 E Lee St.
- Senatobia: 102 Norfleet Drive
- Southaven: 8912 Northwest Drive
- Starkville: 605 S Jackson St.
- Tupelo: 1317 E Main St.
- Vancleave: 12201 Highway 57
- Hayti: 603 E Washington St.
- Hickory: 2350 Springs Road NE
- Rutherfordton: 150 Park Lane Drive
- Bishopville: 618 Sumter Highway
- Camden: 1521 Jefferson Davis Highway
- Chesterfield: 2404 West Blvd.
- Gaston: 106 Jimmy Martin Circle
- Lyman: 200 Spartanburg Highway
- Newberry: 1827 Wilson Road
- Piedmont: 908 Anderson St.
- Sumter: 209 Broad St.
- Woodruff: 505 Laurens Road
- Bartlett: 6064 Stage Road
- Centerville: 1797 Highway 100 East
- Columbia: 425 W 7th St.
- Etowah: 733 Lawrence St.
- Humboldt: 2549 N Central Ave.
- Huntingdon: 535 High St.
- Lafayette: 1109 Scottsville Road
- Memphis: 4589 Quince Road
- Memphis: 6500 Quince Road
- Memphis: 7143 Winchester Road
- Milan: 5028 S 1st St.
- Savannah: 1103 Florence Road
- Sparta: 159 W Turn Table Road
- Sweetwater: 522 S Main St.
- Union City: 1405 S Home St.
- Bridgeport: 801 Turkey Creek Trail
- Hallsville: 1000 W Main St.
- Jacksboro: 618 N Main St.
- White Oak: 605 E U.S. Highway 80