Fred’s, the Memphis-based discount variety chain, will be closing more than 150 stores by the end of May, including Cedartown’s store on North Main Street.
Additionally, the stores at 1916 Redmond Circle in Rome, a store at 325 Curtis Parkway in Calhoun and a store at 710 Cherokee Plaza in Centre, Alabama are among the stores slated for closure.
Fred’s Inc.’s everyday low prices are getting even lower, as 159 stores have begun “liquidation sales” Thursday ahead of their closings by the end of May.
Company executives claimed the closures are part of a routine scrutiny of performance resulting in the decision to close “under performing and unprofitable stores” while at the same time enhancing shareholder value. The company also said that the timing of lease expiration was also a factor in the decision making process.
Fred’s will still have a location at 4111 Martha Berry Highway in Rome, another shop at 5132 Joe Frank Harris Parkway in Adairsville.