Fred’s Will Close

The 72 year old discount chain Fred’s has filed for Chapter 11 bankruptcy and will close approximately 300 remaining stores.  At the beginning of the year Fred’s had 557 stores.  Stores are located in Alabama, Georgia, Illinois, Florida, Texas and North Carolina.  Fred’s has been reporting yearly losses since 2015. The first store was opened in 1947. Liquidation sales will take place over the next 60 days.