More than 100 Fred’s stores will reportedly soon shutter their doors in the latest bout of closures announced by the discount retail company.
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The decision – which will affect 104 locations in states such as Mississippi, Georgia and Tennessee – was made amid an “ongoing effort to rationalize its store footprint,” the company said Thursday, according to USA Today.
The stores are reportedly likely to close up shop by the end of next month.
“These additional store closures are a difficult but necessary step in the continued restructuring of Fred’s,” CEO Joseph Anto said, according to the outlet.
Last month, the retailer decided to close 159 of their locations, USA Today reported.
SB360 Capital Partners is handling “’Store Closing’ Sales” for the 104 locations, the firm said in a news release on Thursday.
“SB360 was initially retained by Fred's in April to conduct Store Closing Sales in 159 locations,” SB360 said. “Those stores have entered their final days and will wrap up business over the next week to 10 days.”