Discount merchandise retailer Fred’s announced on Friday that it will close another 129 stores and hold inventory clearance sales as the company works to repay its debt and diversify its product selection.
Fred’s will have an estimated 80 retail stores and 166 pharmacies standing following its store closures. In a press release, the retailer said all pharmacies would stay open and be able to fill prescriptions.
“While it is never easy to make decisions that impact our valued employees and customers, this initiative represents another necessary step in our continued efforts to stabilize our business by simplifying our store portfolio and product assortment,” Joseph Anto, Fred’s CEO said in a press release on Friday.
Anto said he encourages Fred’s customers to take advantage of their clearance sales, which will offer a “compelling opportunity to purchase heavily discounted items for a limited time”.
The discount merchandise retailer was founded in 1947 in Coldwater, Mississippi, and expanded across the Southeast.
Fred’s stock fell 7% Friday following the announcement. The company’s stock is currently trading below a dollar and has fall nearly 80% over the past year.
The Fred’s stores closures come as a number of other retailers including Dressbarn, CVS, Pier 1, and TopShop plan to close store locations. According to Coresight Research, the number of store closures announced year-to-date has already exceeded the total for 2018. The researcher estimates the total could reach 12,000 by the end of 2019. So far this year, U.S. retailers have announced 7,062 store closures and 3,017 store openings, it said.
According to Coresight, there were 5,524 store closures last year, which was still 30% less than the 8,139 closures in 2017 — a record high.
The additional pressure from China’s tariffs on consumer goods is also expected to make it a challenging road ahead for retailers this year.
Here is a full list of the stores that are closing:
120 SPRING BRANCH DR ALEXANDRIA AL 36250
13210 NORTH WINTZELL AVE BAYOU LA BATRE AL 36509
307 NORTH MULBERRY AVE BUTLER AL 36904
300 PARK DR CLANTON AL 35046
340 VIRGINIA AVE DALEVILLE AL 36322
996 HIGHWAY 203 ELBA AL 36323
7250 US-43 GUIN AL 35563
916 21ST STREET HALEYVILLE AL 35565
280 HIGHWAY 78 WEST JASPER AL 35501
525 4TH AVENUE NE RED BAY AL 35582
16100 HWY 72 ROGERSVILLE AL 35652
9574 HWY-18 VERNON AL 35592
808 WEST COLLIN RAYE DR DEQUEEN AR 71832
611 US 65 S DUMAS AR 71639
1301 NORTH ILLINOIS AVE HARRISBURG AR 72432
#2 FOREST PARK AVE HOLIDAY ISLAND AR 72631
1218 US-82 LAKE VILLAGE AR 71653
801 SOUTH HIGHWAY 77 MANILA AR 72442
438 SOUTH ALABAMA ST MARIANNA AR 72360
103 DAWSON ST MARKED TREE AR 72365
614 SOUTH MAIN ST NASHVILLE AR 71852
303 EAST MAIN ST PIGGOTT AR 72454
2809 SOUTH CAMDEN RD PINE BLUFF AR 71603
1309 S LINCOLN ST STAR CITY AR 71667
10 EAGLE ST VILONIA AR 72173
507 WEST PINE WARREN AR 71671
HWY 49 TWIN CITY S/C WEST HELENA AR 72390
320 HWY 14 SOUTH YELLVILLE AR 72687
1718 SOUTH WAUKESHA ST BONIFAY FL 32425
935 EAST HIGHWAY 90 MADISON FL 32340
1150 N JEFFERSON ST MONTICELLO FL 32344
WILLIAMS ST ALMA GA 31510
214 HWY 49 BYRON GA 31008
1009 NORTH 3RD AVE CHATSWORTH GA 30705
93 BUSHROD JOHNSON AVE CHICKAMAUGA GA 30707
HWY 17 NORTH DARIEN GA 31305
203 N MAIN ST GREENSBORO GA 30642
124 8TH STREET HELENA (MCRAE) GA 31037
534 BELL CREEK RD HIAWASSEE GA 30546
2001 BILLY TUCKER CL HOGANSVILLE GA 30230
719 SOUTH DAVIS ST NASHVILLE GA 31639
1567 N CHEROKEE RD SOCIAL CIRCLE GA 30025
204 EAST KELLY ST SYLVESTER GA 31791
923 N BYPASS EAST WASHINGTON GA 30673
605 N MAIN ST WRENS GA 30833
213 WEST RANDOLPH STREET MCLEANSBORO IL 62859
260 KEEN STREET BURKESVILLE KY 42717
1938 MAIN STREET CADIZ KY 42211
509 NORTH MAIN ST TOMPKINSVILLE KY 42167
1311 NORTH HAZEL STREET ARCADIA LA 71001
5604 HWY 3 BENTON LA 71006
5590 BARKSDALE BLVD BOSSIER CITY LA 71112
109 CHEVY LN BUNKIE LA 71322
8155 US 165 COLUMBIA LA 71418
522 LINCOLN RD EAST MONROE LA 71203
1075 HWY 80 EAST HAUGHTON LA 71037
902 WEST MAIN ST HOMER LA 71040
715 1ST AVE KINDER LA 70648
2019 FARMERVILLE HWY RUSTON LA 71270
7139 US HWY 61 ST FRANCISVILLE LA 70775
1320 SR-2 STERLINGTON LA 71280
125 E MAIN ST EAST PRARIE MO 63845
499 WEST HWY 162 PORTAGEVILLE MO 63873
441 N FOURTH ST BALDWYN MS 38824
2675 HWY 15 BAY SPRINGS MS 39422
520 NORTH HAYDEN ST BELZONI MS 39038
403 W CALHOUN ST BRUCE MS 38915
229 NORTH UNION CANTON MS 39046
300 SOUTH PEARLE STREET CARTHAGE MS 39051
456 HWY 24 CENTREVILLE MS 39631
304 W MAIN ST CHARLESTON MS 38921
236 DESOTO AVE CLARKSDALE MS 38614
1211 SOUTH FIR AVE COLLINS MS 39428
14916 SR-16 DEKALB MS 39328
300 SR-9 EUPORA MS 39744
101 MANSKER DRIVE FLORA MS 39071
1409 ADAMS STREET FULTON MS 38843
2616 HWY 82 EAST GREENWOOD MS 38930
615 HWY 25 SOUTH IUKA MS 38852
6230 OLD CANTON RD JACKSON OLD CANTON MS 39211
951 MAIN ST LEAKESVILLE MS 39451
502 SOUTH CHURCH LOUISVILLLE MS 39339
1039 MARTIN LUTHER KING DRIVE MARKS MS 38646
1618 DELAWARE AVE MCCOMB MS 39648
3050 SIMPSON, HWY 13 MENDENHALL MS 39114
1509 BROAD STREET WEST MONTICELLO MS 39654
31 SGT PRENTISS DRIVE NATCHEZ MS 39120
126 WEST MAIN STREET NEW ALBANY MS 38652
1388 SOUTH MAIN ST POPLARVILLE MS 39470
1635 COLUMBIA AVE PRENTISS MS 39474
509 HWY 589 PURVIS MS 39475
111 WILLOW BROOK DRIVE SALTILLO MS 38866
710 CHURCH ROAD SOUTHAVEN MS 38671
2110 GOODMAN ROAD EAST SOUTHAVEN MS 38671
4233 ROCKY BRANCH ROAD SUMRALL MS 39482
1038 US 61 TUNICA MS 38676
409 DUNCAN STREET WATER VALLEY MS 38965
603 MIDDLETON RD WINONA MS 38967
118 MAIN STREET ANDREWS NC 28901
102 MCREYNOLDS ST CARTHAGE NC 28327
1528 SOUTH LAFAYETTE ST SHELBY NC 28152
763 SR-28 ABBEVILLE SC 29620
311 EAST MAIN ST ANDREWS SC 29510
116 RIVER STREET BELTON SC 29627
227 APPLE SQUARE PLAZA EDGEFIELD SC 29824
297 SOUTH HWY 20 WILLIAMSTON SC 29669
1200 WEST CHURCH ST ALAMO TN 38001
11888 HWY 70 ARLINGTON TN 38002
1560 DONELSON PKWY DOVER TN 37058
5897 EAST MAIN ST ERIN TN 37061
535 WEST MAIN HENDERSON TN 38340
88 LOVELVILLE HWY LINDEN TN 37096
890 E MAIN ST LIVINGSTON TN 38570
3561 MAYNARDVILLE HWY MAYNARDVILLE TN 37807
87 SOUTH MAIN ST MCKENZIE TN 38201
1290 LAMAR AVE MEMPHIS LAMAR TN 38104
250 E STRATTON AVE MONTEREY TN 38574
501 TENNESSEE AVE NORTH PARSONS TN 38363
327 N MAIN ST PIKEVILLE TN 37367
16280 US-64 SOMERVILLE TN 38068
730 EVERETT STREET TIPTONVILLE TN 38079
2045 US 45 TRENTON TN 38382
307 HWY 64 EAST WAYNESBORO TN 38485
5305 NEW HIGHWAY 31 E WESTMORELAND TN 37186
4928 HWY 70 WHITE BLUFF TN 37187
218 WATSON BLVD DAINGERFIELD TX 75638
375 W HWY 84 FAIRFIELD TX 75840
850 N BEAULAH ST HAWKINS TX 75765
113 NORTH GREER BLVD PITTSBURG TX 75686