Fred's Discount Stores In Paris, Murray To Close

Paris, Tenn.–The Fred’s Discount Store in Paris is on the list of 159 “underperforming stores” that will be closing by the end of May. Also on the list are the stores in Dyersburg and Medina. The store in Murray is also set to close.
According to an announcement from the Memphis-based discount chain, “going  out of business” sales starts soon.
“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 CEO Joseph Anto said in the statement. “Most of these stores have near‐term lease expirations and limited remaining lease obligations.”
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.”
The closing stores represent nearly 29% of Fred’s 557 stores and are located in 13 states with Mississippi, Alabama, Georgia and Tennessee losing the most stores.
Here is the list of Tennessee stores to close:

Tennessee

• Brownsville: 337 E Main St
• Clarksville: 390 Highway 149
• Collierville: 450 Hwy 72 West
• Dayton: 260 16th Ave
• Decherd: 1755 Decherd Blvd
• Dyersburg: 805 Pennell Ln
• Gallatin: 420 W Main St
• Hartsville: 230 Broadway
• Jackson: 1688 S Highland Ave
• Jasper: 3600 Main St
• Lebanon: 230 E Gay St
• McMinnville: 912 N Chancery St
• Medina: 211 Three Oaks Drive
• Memphis: 4280 Getwell Rd
• Memphis: 5016 Old Summer Rd
• Mt. Pleasant: 700 North Main Street
• Murfreesboro: 1664 Middle Tennessee Blvd
• Newport: 122 Five Rivers Plaza Way
• Paris: 850 Volunteer Dr
• Portland: 114 W Knight St
• Pulaski: 1670 W College St
• Selmer: 399 Mulberry Ave
• Woodbury: 1130 S Mccrary St