Fred’s closing five East Texas stores

Fred’s closing five East Texas stores

EAST TEXAS, TX (KLTV) - The discount general store and pharmacy, Fred’s, will be closing its doors at multiple East Texas locations.

The company, Fred’s, Inc., announced on April 11 it will close various stores, including its store locations in Tyler, Gladewater, Kilgore, Whitehouse and Lindale.

According to a press release, the company will close 159 stores by the end of May 2019. The company made the decision to close “underperforming stores” following an evaluation of the stores’ portfolios, “including historical and recent store performance and the timing of lease expirations, among other factors.”

“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," Fred’s Chief Executive Officer Joseph Anto stated in a press 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,”

Store locations throughout Texas, Arkansas, Alabama, Georgia, Louisiana, Kentucky, Illinois and Tennessee are affected by the closure. Fred’s, Inc. did reported 398 of their locations will remain open.

For a full list of the store closures, click here.

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