TYLER, Texas — Fred's Inc. is closing several "under performing" stores across the country, including in five East Texas locations.
According to a press release, the decision comes after the company evaluated its portfolio to determine store performance and lease expirations.
"Most of these stores have near-term lease expirations and limited remaining lease obligations," CEO Joseph Anto said. "Decisions that impact our associates in this way are difficult, but the steps we are announcing are necessary.
The five East Texas locations set to close are:
- Gladewater: 601 Broadway Ave.
- Kilgore: 605 N Henderson Blvd.
- Lindale: 1601 S Main St.
- Mc Gregor: 1000 S Main St.
- Tyler: 1803 E Gentry Pkwy.
- Whitehouse: 1123 State Highway 110 N
In all, 159 stores nationwide will close by the end of May. Liquidation for those stores is set to begin immediately.
"We will make every effort to transition impacted associates to other stores where possible,” Alto said.
For a full list of closures across the country, follow this link to the official press release.
