(KSLA) — Fred’s Inc. is targeting another 129 stores for closure, including seven in the ArkLaTex.
Among the 16 stores being closed in Arkansas is the location at 808 W. Collin Raye Drive in DeQueen.
The dozen Louisiana stores targeted in this round of closures include:
- Arcadia: 1311 N. Hazel St.
- Benton: 5604 Louisiana Highway 3
- Bossier City: 5590 Barksdale Blvd.
- Haughton: 1075 U.S. Hwy 80 East
- Homer: 902 W. Main St.
- Ruston: 2019 Farmerville Highway
“Fred’s may evaluate relaunching certain closed stores in the future under a new operating model, with an updated assortment,” a company news release states.
The Memphis, Tenn.-based already closed 159 underperforming and unprofitable stores in 13 states — including 19 in Arkansas, 14 in Louisiana, six in Texas and one in Oklahoma — by the end of May and another 104 stores by the end of June.
This third wave of closures will leave Fred’s with about 80 stores centered primarily around its distribution center in Dublin, Ga.
Three locations in Louisiana are among those 80 or so stores that will remain open. They include the stores at:
- 200 N. Elm St. in Haughton, and,
- 2866 Bienville Highway in Ringgold.
The latest round of closures also will leave the discount retailer with no stores in Arkansas and Texas.
Fred’s Inc. recently reported $319 million in revenue, meaning a $33.9 million loss, in its fiscal first quarter.