Fred’s to close 159 stores nationwide, include five local stores

Fred’s announced Thursday it’s closing 159 stores by the end of May, including stores in Dyersburg, Jackson, Medina, and Paris in Tennessee, and Murray, Kentucky.

The store also announced clearance sales at an additional 360 stores.

In a statement Thursday, the retailer says that it retained investment banking advisory firm PJ Solomon to assess its options “to maximize value” and hired liquidation firms Malfitano Advisors and SB360 Capital Partners “to help manage the process and ensure a seamless experience for customers.”

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