MONROE, La. (The News-Star) — (4/10/19) Discount chain Fred’s is joining the growing list of retailers shuttering stores amid slumping sales.
The Memphis-based company announced Thursday it will close 159 underperforming stores by the end of May with “going out of business” sales starting Thursday as it looks to reduce its store footprint and “evaluate strategic alternatives.”
The struggling retailer said in a statement that it retained investment banking advisory firm PJ Solomon to assess its options “to maximize value” and hired liquidation firms Malfitano Advisors and SB360 Capital Partners “to help manage the process and ensure a seamless experience for customers.”
Read more at The News-Star.