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Fred’s Closing 104 Underperforming Stores In Southeast

Fred's

Fred’s Inc. plans to close 104 underperforming stores in the Southeast as part of an ongoing effort to rationalize its store footprint.

Fred’s decision to close additional underperforming stores follows a continued evaluation of the Memphis, Tennessee-based company’s portfolio, including historical and recent store performance and the timing of lease expirations, among other factors.

Liquidation sales at the 104 stores designated for closure are underway while the other Fred’s stores will remain open.

“These additional store closures are a difficult but necessary step in the continued restructuring of Fred’s,” said Joseph Anto, Fred’s CEO.

Fred’s intends to close all 104 impacted stores by the end of June. Fred’s has continued its partnership with Malfitano Advisors LLC and SB360 Capital Partners to help manage the process and ensure a seamless experience for customers.

Fred’s also announced that it has entered into a forbearance agreement and amendment with its lenders under the company’s revolving credit facility, as described in more detail in a Form 8-K filed with the Securities and Exchange Commission.

Fred’s store locations to be closed include:

• Alabama: 802 Main Street NE, Hanceville; 2146 S. Oates Street, Dothan; 105 Memorial Parkway West, Aliceville; 802 Forrest Avenue E., Brewton; 17870 Baldwin Farms Place, Robertsdale; 1734 Kowaliga Road, Eclectic; 35360 U.S. Highway 231, Ashville; 715 E. Main Street, Prattville;

• Arkansas: 8515 Dollarway Road, White Hall; 57 S. Broadview Street, Greenbrier; 6027 Highway 67, Haskell; 609 East Main Street, Melbourne; 15700 Arch Street, Little Rock; 110 N. Main Street, Malvern; 1002 Highway 65 N., Marshall; 2695 State Highway 77 S., Marion; 4212 E. Johnson Avenue, Jonesboro; 406 W. Main St., Magnolia; 406 Highway 425 S., Monticello; 428 S. James Street, Jacksonville; 1701 Commerce Road, Pine Bluff; 652 Highway 365, Mayflower; 1302 Highway 64 E., Augusta; 198 N. Curtis Avenue, Pea Ridge;

• Florida: 6522 Caroline Street, Milton; 1535 Ohio Avenue S., Live Oaks; 1435 S. Orange Avenue, Green Cove Springs;

• Georgia: 1442 Tift Avenue N., Tifton; 15 Colbert Business Parkway, Colbert; 813 Bowens Mill Road SE, Douglas; 2601 S. Main Street, Moultrie; 118 Robert B. Lee Drive, Leesburg; 3233 Martha Berry Highway NW, Rome; 650 W. Cherry Street, Jesup; 875 S. Main Street, Baxley; 425 Sigman Road NW, Conyers; 1090 Highway 19 N., Thomaston; 1001 N. Slappey Boulevard, Albany; 4401 Bemiss Road, Valdosta; 122 Hillcrest Parkway, Dublin; 224 E. 4th Street, Ocilla; 6109 Houston Road, Macon;

• Illinois: 1021 Highway 45 N., El Dorado; 6 N. 4th Street, Breese;

• Kentucky: 1181 Main Street, Munfordville; 1117 Lincoln Park Road, Springfield;

• Louisiana: 1701 N. 18th Street, Monroe; 899 N. Highway 177, Moss Bluff; 2615 N. 7th Street, West Monroe; 2017 E. Madison Avenue, Bastrop; 7616 Highway 80, Ruston; 306 Moreau Street, Marksville; 1882 Airline Drive, Bossier City; 207 Washington Street, West Monroe; 4828 Shreveport Highway, Tioga;

• Mississippi: 603 E. Washington Street, Hayti; 905 Highway 278 E., Amory; 605 S. Jackson Street, Starkville; 964 Brookway Boulevard, Brookhaven; 1930 University Avenue, Oxford; 6 E. Commerce Street, Hernando; 2040 E. Shiloh Road, Corinth; 5760 Highway 80 E., Pearl; 5266 Old Highway 11, Hattiesburg; 12201 Highway 57, Vancleave; 1317 E. Main Street, Tupelo; 25096 Highway 51, Crystal Springs; 1898 Spillway Road, Brandon; 401 E. Lee Street, Sardis; 102 Norfleet Drive, Senatobia; 7833 Highway 613, Moss Point; 200 Clinton Boulevard, Clinton; 140 Trade Center Lane, Hazlehurst; 8912 Northwest Drive, Southaven;

• North Carolina: 150 Park Lane Drive, Rutherfordton; 2350 Springs Road NE, Hickory;

• South Carolina: 200 Spartanburg Highway, Lyman; 908 Anderson Street, Piedmont; 2404 West Boulevard, Chesterfield; 618 Sumter Highway, Bishopville; 106 Jimmy Martin Circle, Gaston; 1521 Jefferson Davis Highway, Camden; 1827 Wilson Road, Newberry; 209 Broad Street, Sumter; 505 Laurens Road, Woodruff;

• Tennessee: 1405 S. Home Street, Union City; 6064 Stage Road, Bartlett; 1109 Scottsville Road, Lafayette; 733 Lawrence Street, Etowah; 2549 N. Central Avenue, Humboldt; 159 W. Turn Table Road, Sparta; 1103 Florence Road, Savannah; 1797 Highway 100 East Centerville; 425 W. 7th Street, Columbia; 535 High Street, Huntingdon; 522 S. Main Street, Sweetwater; 4589 Quince Road, Memphis; 5028 S. 1st Street, Milan; 7143 Winchester Road, Memphis; 6500 Quince Road, Memphis;

• Texas: 618 N. Main Street, Jacksboro; 801 Turkey Creek Trail, Bridgeport; 1000 W. Main Street, Hallsville; and 605 E. U.S. Highway 80, White Oak.

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