Fred’s Inc. said on Thursday it would close at least 159 underperforming and unprofitable stores, or nearly 30 percent of its total number of outlets.
The closing stores represent nearly 29% of Fred’s 557 stores and are located in 13 states with Mississippi, Alabama, Georgia and Tennessee losing the most stores.
Sales at Fred’s stores open at least a year fell 4.9 percent in the first nine months of 2018, compared with a year earlier. Last September, Fred’s reached an agreement to sell the pharmacy patient prescription files and related pharmacy inventory of 179 Fred’s stores located across 10 southeastern states to Walgreens for $165 million.
Fred’s stores closing in Southwest Georgia include:
- Bainbridge: 1602 E Shotwell St
- Blakely: 800 Columbia Rd
- Camilla: 500 Us Highway 19 S
- Thomasville: 2730 E Pinetree Blvd
- Cordele: 102 E 14th Ave
The Enterprise, AL, Fred’s store at 621 Boll Weevil Circle is also on the closing list.
The Fred’s store in Donalsonville, Ga., is not on the closing list.