Published: April 12, 2019


THE DISCOUNT CHAIN FRED'S ANNOUNCED THURSDAY THAT THEY WILL CLOSE 159 STORES BY THE MAY.  THE MEMPHIS BASED COMPANY IS LOOKING TO REDUCE IT'S STORE FOOTPRINT AND TO MAXIMIZE VALUE.  THE CLOSING STORES REPRESENT NEARLY 29 PERCENT OF FRED'S 557 STORES WITH MISSISSIPPI, ALABAMA, GEORGIA, AND TENNESSEE LOSING THE MOST.  TWO STORES IN FLORENCE ARE SET TO CLOSE AS WELL AS ONE IN TUSCUMBIA.  THE STORE ON NORTH MAIN STREET IN MT. PLEASANT AND THE GILES COUNTY LOCATION ON WEST COLLEGE STREET ARE ALSO AMONG THOSE CLOSING THEIR DOORS.  A TOTAL INVENTORY BLOWOUT CLEARANCE SALE IS BEING LAUNCHED AT AN ADDTIONAL 360 FRED'S STORES.