Inactive Instrument

Fred's, Inc.

Fred's, Inc. to Close an Additional 129 Stores and Hold Inventory Clearance Sales Across All Stores

July 12, 2019 at 09:00 am EDT

Fred's, Inc. announced that it will close an additional 129 retail stores and hold inventory clearance sales across all stores in an effort to refocus its product mix, simplify its store portfolio and repay debt. Following the planned 129 closures, Fred’s will have approximately 80 retail stores remaining, centered primarily around the Company’s distribution center in Dublin, GA. The Company expects the proceeds from the inventory clearance sales will be used to repay outstanding indebtedness under its revolving credit agreement.

Latest news about Fred's, Inc.

Fred's, Inc.'s Equity Buyback announced on January 30, 2019, has expired.	21-01-28	CI
Walgreen Co. cancelled the acquisition of remaining contracted pharmacy assets from Fred's, Inc. (OTCPK:FRED.Q).	20-09-29	CI
Fred's, Inc. Announces Cessation of Directors	20-06-10	CI
Fred's, Inc. Announces Executive Changes	19-12-04	CI
Fred Receives Two Stalking Horse Bids	19-10-10	CI
Walgreen Co. agreed to acquire remaining contracted pharmacy assets from Fred's, Inc. (OTCPK:FRED.Q) for $9.4 million.	19-09-29	CI
Fred's, Inc.(NasdaqGS:FRED) dropped from S&P TMI Index	19-09-11	CI
Fred's Seeks To Sell Its Pharmacies	19-09-09	CI
Fred's, Inc. Announces Resignation of Ritwik Chatterjee as Chief Financial Officer	19-08-29	CI
Fred's, Inc. Signed Three-Year Lease for 18,700 Square Feet at 6625 Lenox Park Blvd. in Early July	19-08-09	CI
Fred's, Inc. Announces Executive Changes	19-08-02	CI
Fred's, Inc. Announces Amendments to its Credit Agreement	19-07-15	CI
Fred's, Inc. to Close an Additional 129 Stores and Hold Inventory Clearance Sales Across All Stores	19-07-12	CI
Fred's, Inc. Enters into Tenth Amendment to Credit Agreement with Lenders	19-07-05	CI
Fred's, Inc. to Close 49 Underperforming Stores	19-06-21	CI
Transcript : Fred's, Inc., Q1 2020 Earnings Call, Jun 19, 2019	19-06-19
Fred's, Inc. Announces Unaudited Earnings Results for the First Quarter Ended May 4, 2019	19-06-19	CI
Tranche Update on Fred's, Inc.'s Equity Buyback Plan announced on January 30, 2019.	19-06-18	CI
Fred’s, Inc. Enters Forbearance Agreement, Eighth Amendment to Credit Agreement and Fourth Amendment to Amended and Restated Addendum to Credit Agreement	19-05-16	CI
Fred’s, Inc. to Close 104 Underperforming Stores in the Southeast	19-05-16	CI
Transcript : Fred's, Inc., Q4 2019 Earnings Call, May 06, 2019	19-05-06
Fred's, Inc. Announces Unaudited Earnings Results for the Fourth Quarter and Year Ended February 2, 2019; Reports Impairment of Assets for the Fourth Quarter Ended on February 3, 2019	19-05-06	CI
Tranche Update on Fred's, Inc.'s Equity Buyback Plan announced on January 30, 2019.	19-05-03	CI
Fred's Retains PJ Solomon to Evaluate Strategic Alternatives to Maximize Value	19-04-11	CI
Fred's, Inc. Announces Resignation of Nathaniel Klein as Chief Operating Officer	19-04-05	CI

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Company Profile

Fred's, Inc. (Fred's) is engaged in the sale of general merchandise through its retail discount stores and full-service pharmacies. The Company sells general merchandise to its over 11 franchisees. The Company has approximately 556 retail stores in over 15 states mainly in the Southeastern United States. The Company is licensed to dispense pharmaceuticals in approximately 14 states. Fred's general merchandise selection includes an array of staple and discretionary products from brand names and its private label. The Company's prescription drugs are ordered by its pharmacies individually and shipped directly from the Company's primary pharmaceutical wholesaler, Cardinal Health, Inc., to the pharmacies approximately five days a week. Fred's Brand products include health, beauty and personal care products, household cleaning supplies, disposable diapers, pet foods, paper products and a variety of general merchandise, food and beverage products.

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Discount Stores

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