One of the Fred’s locations that is being closed in the recent announcement from the Memphis-based discount store chain is in DeSoto County. A total of 159 stores nationwide are being closed. Fred’s has labeled the locations as “underperforming.”
The DeSoto County store being closed is at 3031 Goodman Road West in Horn Lake.
Other Mississippi stores being closed include those in Holly Springs and Coldwater.
The locations were to immediately start special “Store Closing” liquidation sales and Fred’s announced the stores would be closing by the end of May.
The number of stores being closed amounts to nearly 30 percent of its locations. Fred’s are located in 13 states. Mississippi, Tennessee, Alabama, and Georgia are the states losing the most stores.
"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,” Joseph Anto, Fred's Chief Executive Officer said in a news release. “Most of these stores have near-term lease expirations and limited remaining lease obligations. Decisions that impact our associates in this way are difficult, but the steps we are announcing are necessary. We will make every effort to transition impacted associates to other stores where possible."
Bob Bakken is Managing Editor for the DeSoto Times-Tribune.