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SB360 Capital Partners Will Oversee 129 New Fred’s Store Closures

July 15, 2019, 08:50 AM
Filed Under: Retail

SB360 Capital Partners, a leading asset disposition specialist, has renewed their agreement to work as the exclusive consultant to conduct “Store Closing” Sales for Fred’s Inc., and will begin sales in 129 new locations today. Fred’s added the 129 underperforming locations as part of a continued evaluation of their store portfolio.

Fred’s Pharmacy locations will be unaffected by the closures. The Fred’s Pharmacy team will continue to serve their customer’s prescription needs.

Founded in 1947, Fred’s serves small communities throughout the southeast. Fred’s offers value-priced products across categories that fulfill everyday needs – food, fresh goods, snacks, soda, toiletries, over-the-counter medications, household products, hardware, sporting goods, lawn & garden, toys, and much more. Aside from big-box competitors, Fred’s is frequently the dominant value retailer in the communities that it serves.

Beginning in early April of this year, SB360 has partnered with Fred’s management, market leaders, and store teams to conduct Store Closing Sales. The most recent group of 49 Fred’s stores will wrap up sales in the next few weeks.

Aaron Miller, Executive Vice President of SB360, said, “Fred’s stores are well-known local community stores. Loyal Fred’s shoppers know these stores carry all of the everyday essentials they need. They quickly clear the shelves when they see the Store Closing discounts offered off Fred’s already low prices.”

“With in-season summer goods, plus many items that are on Back-to-School checklists, Fred’s shoppers will find tremendous savings,” said Ziggy Schaffer, Executive Vice President of SB360. “Shoppers will find Back-to-School supplies, apparel, bedding and small appliances for college dorms, plus so much more, all at Store Closing discounts.”

The 129 Fred’s locations holding new sales have plenty of summer seasonal goods for backyard grilling, patio seating, outdoor fun for the kids, and summer necessities like fans and window A/C units.

“Nothing lasts long in these stores,” concurred Mr. Miller and Mr. Schaffer. “Word spreads quickly in many of these communities, and Fred’s shoppers come in early for the best selection. They know if they don’t buy early, what they want won’t be there.”

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