Following the announcements that it would be closing 313 stores; Fred’s Inc. (FRED) has added 129 more locations to its closure list. The company said it will begin to hold “inventory clearance” sales at all of the stores as it looks to “simplify its store portfolio and repay debt.”

Following the 129 stores closures, Fred’s will operate a total of 80 locations which it said will be primarily located around its distribution center in Dublin, Georgia. The company said it would reevaluate re-launching the certain stores that it has closed in the future as it undergoes a “new operating model.”

Through its “inventory clearance” sales, Fred’s intends to repay its outstanding debt under its revolving credit agreement. The company will work with Malfitano Advisors, LLC and SB360 Capital Partners for the clearance sale process.

Fred’s said all of its pharmacies will remain open. This includes the 69 pharmacies that are located within the 129 stores that it announced it was closing. The company is looking to sell its remaining 166 pharmacies to “monetize pieces of its real estate portfolio.” Fred’s sold its pharmacy files to Walgreens in 2018 for about $165 million.

“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,” Joseph Anto, Fred's CEO, said.

“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,” he added.

The 129 stores that Fred’s is closing are:

  • 120 SPRING BRANCH DR ALEXANDRIA AL 36250
  • 13210 NORTH WINTZELL AVE BAYOU LA BATRE AL 36509
  • 307 NORTH MULBERRY AVE BUTLER AL 36904
  • 300 PARK DR CLANTON AL 35046
  • 340 VIRGINIA AVE DALEVILLE AL 36322
  • 996 HIGHWAY 203 ELBA AL 36323
  • 7250 US-43 GUIN AL 35563
  • 916 21ST STREET HALEYVILLE AL 35565
  • 280 HIGHWAY 78 WEST JASPER AL 35501
  • 525 4TH AVENUE NE RED BAY AL 35582
  • 16100 HWY 72 ROGERSVILLE AL 35652
  • 9574 HWY-18 VERNON AL 35592
  • 808 WEST COLLIN RAYE DR DEQUEEN AR 71832
  • 611 US 65 S DUMAS AR 71639
  • 1301 NORTH ILLINOIS AVE HARRISBURG AR 72432
  • #2 FOREST PARK AVE HOLIDAY ISLAND AR 72631
  • 1218 US-82 LAKE VILLAGE AR 71653
  • 801 SOUTH HIGHWAY 77 MANILA AR 72442
  • 438 SOUTH ALABAMA ST MARIANNA AR 72360
  • 103 DAWSON ST MARKED TREE AR 72365
  • 614 SOUTH MAIN ST NASHVILLE AR 71852
  • 303 EAST MAIN ST PIGGOTT AR 72454
  • 2809 SOUTH CAMDEN RD PINE BLUFF AR 71603
  • 1309 S LINCOLN ST STAR CITY AR 71667
  • 10 EAGLE ST VILONIA AR 72173
  • 507 WEST PINE WARREN AR 71671
  • HWY 49 TWIN CITY S/C WEST HELENA AR 72390
  • 320 HWY 14 SOUTH YELLVILLE AR 72687
  • 1718 SOUTH WAUKESHA ST BONIFAY FL 32425
  • 935 EAST HIGHWAY 90 MADISON FL 32340
  • 1150 N JEFFERSON ST MONTICELLO FL 32344
  • WILLIAMS ST ALMA GA 31510
  • 214 HWY 49 BYRON GA 31008
  • 1009 NORTH 3RD AVE CHATSWORTH GA 30705
  • 93 BUSHROD JOHNSON AVE CHICKAMAUGA GA 30707
  • HWY 17 NORTH DARIEN GA 31305
  • 203 N MAIN ST GREENSBORO GA 30642
  • 124 8TH STREET HELENA (MCRAE) GA 31037
  • 534 BELL CREEK RD HIAWASSEE GA 30546
  • 2001 BILLY TUCKER CL HOGANSVILLE GA 30230
  • 719 SOUTH DAVIS ST NASHVILLE GA 31639
  • 1567 N CHEROKEE RD SOCIAL CIRCLE GA 30025
  • 204 EAST KELLY ST SYLVESTER GA 31791
  • 923 N BYPASS EAST WASHINGTON GA 30673
  • 605 N MAIN ST WRENS GA 30833
  • 213 WEST RANDOLPH STREET MCLEANSBORO IL 62859
  • 260 KEEN STREET BURKESVILLE KY 42717
  • 1938 MAIN STREET CADIZ KY 42211
  • 509 NORTH MAIN ST TOMPKINSVILLE KY 42167
  • 1311 NORTH HAZEL STREET ARCADIA LA 71001
  • 5604 HWY 3 BENTON LA 71006
  • 5590 BARKSDALE BLVD BOSSIER CITY LA 71112
  • 109 CHEVY LN BUNKIE LA 71322
  • 8155 US 165 COLUMBIA LA 71418
  • 522 LINCOLN RD EAST MONROE LA 71203
  • 1075 HWY 80 EAST HAUGHTON LA 71037
  • 902 WEST MAIN ST HOMER LA 71040
  • 715 1ST AVE KINDER LA 70648
  • 2019 FARMERVILLE HWY RUSTON LA 71270
  • 7139 US HWY 61 ST FRANCISVILLE LA 70775
  • 1320 SR-2 STERLINGTON LA 71280
  • 125 E MAIN ST EAST PRARIE MO 63845
  • 499 WEST HWY 162 PORTAGEVILLE MO 63873
  • 441 N FOURTH ST BALDWYN MS 38824
  • 2675 HWY 15 BAY SPRINGS MS 39422
  • 520 NORTH HAYDEN ST BELZONI MS 39038
  • 403 W CALHOUN ST BRUCE MS 38915
  • 229 NORTH UNION CANTON MS 39046
  • 300 SOUTH PEARLE STREET CARTHAGE MS 39051
  • 456 HWY 24 CENTREVILLE MS 39631
  • 304 W MAIN ST CHARLESTON MS 38921
  • 236 DESOTO AVE CLARKSDALE MS 38614
  • 1211 SOUTH FIR AVE COLLINS MS 39428
  • 14916 SR-16 DEKALB MS 39328
  • 300 SR-9 EUPORA MS 39744
  • 101 MANSKER DRIVE FLORA MS 39071
  • 1409 ADAMS STREET FULTON MS 38843
  • 2616 HWY 82 EAST GREENWOOD MS 38930
  • 615 HWY 25 SOUTH IUKA MS 38852
  • 6230 OLD CANTON RD JACKSON OLD CANTON MS 39211
  • 951 MAIN ST LEAKESVILLE MS 39451
  • 502 SOUTH CHURCH LOUISVILLE MS 39339
  • 1039 MARTIN LUTHER KING DRIVE MARKS MS 38646
  • 1618 DELAWARE AVE MCCOMB MS 39648
  • 3050 SIMPSON, HWY 13 MENDENHALL MS 39114
  • 1509 BROAD STREET WEST MONTICELLO MS 39654
  • 31 SGT PRENTISS DRIVE NATCHEZ MS 39120
  • 126 WEST MAIN STREET NEW ALBANY MS 38652
  • 1388 SOUTH MAIN ST POPLARVILLE MS 39470
  • 1635 COLUMBIA AVE PRENTISS MS 39474
  • 509 HWY 589 PURVIS MS 39475
  • 111 WILLOW BROOK DRIVE SALTILLO MS 38866
  • 710 CHURCH ROAD SOUTHAVEN MS 38671
  • 2110 GOODMAN ROAD EAST SOUTHAVEN MS 38671
  • 4233 ROCKY BRANCH ROAD SUMRALL MS 39482
  • 1038 US 61 TUNICA MS 38676
  • 409 DUNCAN STREET WATER VALLEY MS 38965
  • 603 MIDDLETON RD WINONA MS 38967
  • 118 MAIN STREET ANDREWS NC 28901
  • 102 MCREYNOLDS ST CARTHAGE NC 28327
  • 1528 SOUTH LAFAYETTE ST SHELBY NC 28152
  • 763 SR-28 ABBEVILLE SC 29620
  • 311 EAST MAIN ST ANDREWS SC 29510
  • 116 RIVER STREET BELTON SC 29627
  • 227 APPLE SQUARE PLAZA EDGEFIELD SC 29824
  • 297 SOUTH HWY 20 WILLIAMSTON SC 29669
  • 1200 WEST CHURCH ST ALAMO TN 38001
  • 11888 HWY 70 ARLINGTON TN 38002
  • 1560 DONELSON PKWY DOVER TN 37058
  • 5897 EAST MAIN ST ERIN TN 37061
  • 535 WEST MAIN HENDERSON TN 38340
  • 88 LOVELVILLE HWY LINDEN TN 37096
  • 890 E MAIN ST LIVINGSTON TN 38570
  • 3561 MAYNARDVILLE HWY MAYNARDVILLE TN 37807
  • 87 SOUTH MAIN ST MCKENZIE TN 38201
  • 1290 LAMAR AVE MEMPHIS LAMAR TN 38104
  • 250 E STRATTON AVE MONTEREY TN 38574
  • 501 TENNESSEE AVE NORTH PARSONS TN 38363
  • 327 N MAIN ST PIKEVILLE TN 37367
  • 16280 US-64 SOMERVILLE TN 38068
  • 730 EVERETT STREET TIPTONVILLE TN 38079
  • 2045 US 45 TRENTON TN 38382
  • 307 HWY 64 EAST WAYNESBORO TN 38485
  • 5305 NEW HIGHWAY 31 E WESTMORELAND TN 37186
  • 4928 HWY 70 WHITE BLUFF TN 37187
  • 218 WATSON BLVD DAINGERFIELD TX 75638
  • 375 W HWY 84 FAIRFIELD TX 75840
  • 850 N BEAULAH ST HAWKINS TX 75765
  • 113 NORTH GREER BLVD PITTSBURG TX 75686

Shares of Fred's stock were down 4.65 percent as of 1:53 p.m. ET on Friday.

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