MEMPHIS, Tenn. (localmemphis.com) – Fred’s announced Friday that it is closing another 129 stores, including 5 in the Memphis area.
The discount merchandise retailer will have about 80 stores left after this latest round of store closures.
Locations in the Memphis area closing are: 1290 Lamar Ave., 11888 U.S. 70 in Arlington, 710 Church Road in Southaven, 2110 Goodman Road East in Southaven, and 1038 U.S. 61 in Tunica.
Fred’s said it would hold “inventory clearance sales across all stores in an effort to refocus its product mix, simplify its store portfolio and repay debt.”
According to a court filing, Fred’s had 568 stores in 15 states in the southeast as of Feb. 2.