SYLACAUGA, Ala. – Fred’s on Fort Williams St. in Sylacauga will soon be closed.
According to a press release, Fred’s will close 159 under performing stores across the nation including locations in Sylacauga and Talladega.
Joseph Anto, Fred’s Chief Executive Officer, stated, “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. 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.”
Fred’s intends to close all 159 impacted stores by the end of May 2019. Liquidation sales at the stores currently designated for closure began yesterday while the company’s 398 other stores will remain open.
