In April, Fred’s Discount Stores said the company would be closing some 159 stores nationwide by the end of May due to declining sales and timing of lease expirations.
Information from Fred’s headquarters said an additional 105 “underperforming” locations would close or be liquidated by the end of June.
Those stores closing in June in Arkansas were in Augusta, Greenbrier, Haskell, Jacksonville, Little Rock, Magnolia, Malvern, Marion, Marshall, Mayflower, Melbourne, Monticello, Pea Ridge, Pine Bluff, and White Hall.
Since the closings began this year, other area stores which were affected were located in Newport, Mountain Home, Harrison, Bald Knob, Cherokee Village, Jonesboro, and Searcy.
The closings cut the company’s 557 store count as of April 2019 by 56% to leave an operating base of 244 stores in the Southeastern U.S.
The first Fred’s store opened in Coldwater, Miss., in 1947, and in 1953, the company moved its corporate headquarters to Memphis, Tenn.
Fred’s primary competition comes from Dollar General, Family Dollar, Dollar Tree, and independently-owned stores. Most locations are in towns of 15,000 population or less.
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