LIVE OAK — Fred’s will close its Live Oak store and more than 100 other stores nationwide.
Fred's released a statement Thursday stating it will close an additional 104 stores after the Memphis, Tenn.-based chain announced last month 159 "underperforming" stores would close.
Included in the closures announced Thursday was the Live Oak location at 1535 Ohio Ave. S.
“These additional store closures are a difficult, but necessary step in the continued restructuring of Fred’s,” Chief Executive Officer Joseph Anto said in the statement announcing the closures Thursday.
The original round of closures are scheduled to close May 31.
No closing date was released Thursday for the Live Oak store of the other additional locations, although the closures are expected to be completed by the end of June.
Fred’s will still have approximately 300 stores are both rounds of announced closures.
"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,” Anto said in statement last month when the first round of closures was announced. “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."