Fred’s discount stores to close 159 locations in 13 states

Discount store chain Fred’s announced it will be closing 159 stores and starting clearance sales at 360 locations amid declining business.

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The Memphis-based chain said Thursday that liquidation sales will begin immediately, while the stores set for closure will likely do so by the end of May USA Today reported.

Fred’s currently operates 557 stores in 13 states. The upcoming closures, which represent 29 percent of all Fred’s stores, will mostly affect stores in Mississippi, Alabama, Georgia and Tennessee.

"After a careful review, we have made the decision to rationalize our footprint by closing underperforming stores, with a particular focus on locations with shorter duration leases," Fred’s CEO Joseph Anto said in a statement. "Most of these stores have near‐term lease expirations and limited remaining lease obligations."

Fred's said it’s hired investment banking advisory firm PJ Solomon to assess its options "to maximize value." This could mean a potential sale or restructuring, according to USA Today. It’s hired Malfitano Advisors and SB360 Capital Partners to help with liquidation.

The following Fred’s stores are scheduled to close:

Alabama

• Anniston: 1544 Greenbrier Ln
• Branchville: 13254 Hwy 411
• Center Point: 1683 Center Point Pkwy
• Centre: 710 Cherokee Plz
• Enterprise: 621 Boll Weevil Cir
• Florence: 321 N Court St
• Florence: 4150 Florence Blvd
• Foley: 1200 N Mckenzie Street
• Guntersville: 1477 Sunset Dr
• Hoover: 3317 Lorna Rd
• Hueytown: 3056 Allison Bonnett Memorial Dr
• Lanett: 622 Cherry Dr
• Marion: 1549 Highway 5 S
• Monroeville: 1318 S Highway 21 Byp
• Roanoke: 3077 Highway 431
• Russellville: 13150 Highway 43
• Sylacauga: 212 W Fort Williams St
• Talladega: 65364 Hwy 77
• Tuscumbia: 1401 Woodmont Dr

Arkansas

• Bryant: 3395 Highway 5 N
• Cabot: 207 S 2nd St
• Conway: 245 Oak St
• Conway: 1125 Morningside Dr
• El Dorado: 430 S Bradley Ave
• Forrest City: 2227 N Washington St
• Harrison: 617 Highway 62 65 N
• Hope: 535 N Hervey St
• Jonesboro: 2308 S Caraway Rd
• Mena: 1201 Highway 71 S
• Mountain Home: 509 Hwy 62 E.
• Newport: 1705 Malcolm Ave
• Osceola: 1324 W Keiser Ave
• Paragould: 1723 W Kings highway
• Prescott: 1426 W 1st St N
• Russellville: 3303 W Main Pl
• Searcy: 2706 E Race Ave
• Stamps: 1110 E Antigo St
• West Memphis: 606 E Broadway St

Georgia

• Adel: 1014 S Hutchinson Ave
• Bainbridge: 1602 E Shotwell St
• Barnesville: 790 Veterans Pkwy
• Blakely: 800 Columbia Rd
• Brunswick: 5485 New Jesup Hwy
• Calhoun: 325 Curtis Pkwy Se
• Camilla: 500 Us Highway 19 S
• Cedartown: 550 N Main St
• Cleveland: 156 Wanderway Dr
• Cordele: 102 E 14th Ave
• Covington: 6179 Highway 278 Ne
• Dillard: 7230 Highway 441 N
• Hinesville: 767 Veterans Parkway
• Jasper: 970 E Church St
• Kingsland: 925 E King Ave
• Mcdonough: 1550 S. Zach Hinton Pkwy
• Quitman: 1315 W Screven St
• Ringgold: 1426 West 1st North
• Riverdale: 94 Upper Riverdale Rd Sw
• Rome: 1916 Redmond Cir Nw
• Royston: 411 Smith St
• Swainsboro: 501 S Main St
• Thomasville: 2730 E Pinetree Blvd
• Tunnel Hill: 3593 Chattanooga Rd
• Zebulon: 9215 Highway 19 N

Illinois

• Benton: 215 Bailey Ln

Kentucky

• Hopkinsville: 3129 Canton Pike
• Murray: 928 S 12th St
• Princeton: 300 Hwy 62 W
• Russell Springs: 2385 Lakeway Dr

Louisiana

• Baton Rouge: 10710 Greenwell Springs Road
• Bossier City: 5751 Shed Rd
• Carencro: 806 Veterans Dr
• Franklin: 1801 West Main Street
• Gonzales: 228 W Highway 30
• Hammond: 125 Hwy 51 North
• Jonesboro: 310 E Main St
• Lafayette: 2490 W Congress St
• Monroe: 2350 Sterlington Rd
• Natchitoches: 400 Dixie Plz
• Pineville: 4628 Highway 28 E
• Shreveport: 5907 Old Mooringsport Road
• St. Martinville: 1114 South Main Street
• Westlake: 1514 Sampson Street

Missouri 

• Cape Girardeau: 121a South Sprigg Street
• Poplar Bluff: 441 Highway 53

Mississippi

• Aberdeen: 107 N Meridian St
• Brookhaven: 218 S Whitworth Ave
• Byram: 7261 S Siwell Rd
• Cleveland: 306 E Sunflower Rd
• Coldwater: 520 Central Ave
• Columbia: Hwy 13 Northgate S/C
• Columbus: 304 5th St S
• Columbus: 201 G Alabama St
• Florence: 2932 Highway 49 S
• Forest: 237 Woodland Dr
• Gautier: 1693 Highway 90
• Greenville: 7616 Highway 80
• Greenville: 1600 S Colorado St
• Greenwood: 813 W Park Ave
• Hattiesburg: 1000 Broadway Dr
• Holly Springs: 148 W Van Dorn Ave
• Horn Lake: 3031 Goodman Rd W
• Jackson: 225 Meadowbrook Rd
• Jackson: 540 Raymond Rd
• Leland: 302 North Main St.
• Magee: 1700 Simpson Hwy
• Meridian: 626 22nd Ave S
• Ocean Springs: 3176 Bienville Blvd
• Pascagoula: 2511 Ingalls Ave
• Pearl: 235 George Wallace Dr
• Philadelphia: 714 Pecan Ave
• Terry: 422 W Cunningham Ave
• Tupelo: 809 Varsity Dr
• Tupelo: 1776 McCullough Blvd
• West Point: 26591 E Main St
• Yazoo City: 1200 Jerry Clower Blvd

North Carolina

• Dunn: 988 Erwin Rd.
• Marion: 1155 N Main St
• Spruce Pine: 11931 S 226 Hwy

Oklahoma

• Wagoner: 700 E Cherokee St