The discount chain Fred’s Inc. will close 104 more underperforming stores, including two stores in Illinois, by the beginning of summer, the Memphis-based company said this week.
The latest closures come just over a month after Fred’s began liquidation sales at another 159 stores slated for closure, according to a report in USA Today. The closures are concentrated in Mississippi, Tennessee, Georgia and Arkansas.
The shuttering of the 104 stores is part of an effort that included examinations of past and current store performance and schedules for lease expirations, according to Fred’s Inc. All 104 stores are expected to close by the end of June.
“These additional store closures are a difficult but necessary step in the continued restructuring of Fred’s,” Joseph Anto, the company’s CEO, said in a prepared statement.
Fred's stores in Illinois will close at the following locations:
– 6 N. 4th St. in Breese.
– 1021 Highway 45 North in El Dorado.