Discount chain store Fred’s announced last week that it will close its Abbeville location and 129 others this summer “in an effort to refocus its product mix, simplify its store portfolio and repay debt.”
The Greenwood and Honea Path locations will remain open and, along with the Abbeville location, will offer inventory clearance sales. A location in Hodges closed in May.
“While it is never easy to make decisions that impact our valued employees and customers, this initiative represents another necessary step in our continued efforts to stabilize our business by simplifying our store portfolio and product assortment,” Fred’s CEO Joseph Anto said in a release. “We are pleased to present our loyal customers the unique and compelling opportunity to purchase heavily discounted items for a limited time. We encourage shoppers to take advantage of these unmatched deals, and stock up on items that may be permanently removed from Fred’s shelves, come August.”
As of April, the company had 557 locations. But after four rounds of closures, the company will soon be left with only 80, centered on its distribution center in Dublin, Georgia.
According to the release, Fred’s “may evaluate re-launching certain closed stores in the future under a new operating model, with an updated assortment.”