Discount chain Fred’s is closing hundreds of stores, including its Mountain Home and Harrison locations.The Memphis Commercial Appeal reports the Memphis-based company plans to close 159 underperforming stores by the end of May, or about 29 percent of its 557 locations.No word on how many employees would be affected by the closings.CEO Joseph Anto says decisions impacting their associates in this way are difficult, but the steps they are announcing are necessary. Anto says they will make every effort to transition impacted associates to other stores where possible.The stores are set to offer “going out of business” sales starting Thursday as the company begins liquidation.
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