Fred’s is continuing its efforts to rationalize its store footprint. The Memphis, Tenn.-based company on Thursday announced that it will close 104 stores it says are underperforming by the end of June, with liquidation sales starting today at the affected locations.
The closures are part of a forbearance agreement and amendment with the company’s creditors the company reached Wednesday. The company must meet other inventory and cash flow targets and provide forecasts, among other elements of the forbearance, with the aim of refinancing its debt in late July.
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