Fred’s, Inc. today announced that it will close an additional 129 retail stores across the country and hold inventory clearance sales across all stores in an effort to refocus its product mix, simplify its store portfolio and repay debt. In Mississippi the latest cuts will close another 35 stores.

Following the planned 129 closures, Fred’s will have approximately 80 retail stores remaining, centered primarily around the Company’s distribution center in Dublin, GA. Lists of stores that will be closed and that will remain open are included below. Fred’s may evaluate re-launching certain closed stores in the future under a new operating model, with an updated assortment. The Company expects the proceeds from the inventory clearance sales will be used to repay outstanding indebtedness under its revolving credit agreement.

All pharmacies (including the 69 within the 129 stores referenced above) will remain open and the Company will continue to fulfill prescriptions at its pharmacy locations, as it continues to pursue the sale of its remaining pharmacy locations and opportunities to monetize pieces of its real estate portfolio. The Company currently operates 166 pharmacies.

Joseph Anto, Fred’s Chief Executive Officer, stated, “While it is never easy to make decisions that impact our valued employees and customers, this initiative represents another necessary step in our continued efforts to stabilize our business by simplifying our store portfolio and product assortment.”

Mr. Anto continued, “We are pleased to present our loyal customers the unique and compelling opportunity to purchase heavily discounted items for a limited time. We encourage shoppers to take advantage of these unmatched deals, and stock up on items that may be permanently removed from Fred’s shelves, come August.”

Fred’s has partnered with Malfitano Advisors, LLC and SB360 Capital Partners to help manage the clearance sale process.

441 N FOURTH ST, BALDWYN MS 38824
2675 HWY 15, BAY SPRINGS MS 39422
520 N. HAYDEN ST, BELZONI MS 39038
403 W CALHOUN ST, BRUCE MS 38915
229 N. UNION, CANTON MS 39046
300 S. PEARLE ST, CARTHAGE MS 39051
456 HWY 24, CENTREVILLE MS 39631
304 W MAIN ST, CHARLESTON MS 38921
236 DESOTO AVE, CLARKSDALE MS 38614
1211 SOUTH FIR AVE, COLLINS MS 39428
14916 SR-16, DEKALB MS 39328
300 SR-9, EUPORA MS 39744
101 MANSKER DRIVE, FLORA MS 39071
1409 ADAMS STREET, FULTON MS 38843
2616 HWY 82 EAST, GREENWOOD MS 38930
615 HWY 25 SOUTH, IUKA MS 38852
6230 OLD CANTON RD, JACKSON OLD CANTON MS 39211
951 MAIN ST, LEAKESVILLE MS 39451
502 SOUTH CHURCH LOUISVILLLE MS 39339
1039 MARTIN LUTHER KING DRIVE, MARKS MS 38646
1618 DELAWARE AVE, MCCOMB MS 39648
3050 SIMPSON, HWY 13 MENDENHALL MS 39114
1509 BROAD ST WEST, MONTICELLO MS 39654
31 SGT PRENTISS DRIVE, NATCHEZ MS 39120
126 WEST MAIN STREET, NEW ALBANY MS 38652
1388 SOUTH MAIN ST, POPLARVILLE MS 39470
1635 COLUMBIA AVE, PRENTISS MS 39474
509 HWY 589, PURVIS MS 39475
111 WILLOW BROOK DRIVE, SALTILLO MS 38866
710 CHURCH ROAD SOUTHAVEN, MS 38671
2110 GOODMAN ROAD EAST, SOUTHAVEN MS 38671
4233 ROCKY BRANCH ROAD, SUMRALL MS 39482
1038 US 61, TUNICA MS 38676
409 DUNCAN ST, WATER VALLEY MS 38965
603 MIDDLETON RD, WINONA MS 38967