POY_1170x120_8-12-19

Fred’s

Fred’s names SB360 to conduct store closing sales

Fred’s names SB360 to conduct store closing sales

BOSTON — Fred’s has once again tapped SB360 Capital Partners as their exclusive consultant to conduct store closing sales in all 81 remaining Fred’s locations. SB360 Capital Partners has closed 442 Fred’s locations since April of this year. Fred’s filed a voluntary petition for Chapter 11 on Monday in the U.S. Bankruptcy Court for the District

Fred’s files for Chapter 11 protection

Fred’s files for Chapter 11 protection

DALLAS, Texas — Fred’s announced Monday that the company has filed for voluntary relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.  The company has also filed a motion seeking interim and final approval of the U.S. Bankruptcy Court to enter into a proposed debtor-in-possession financing

Fred’s closing 104 more stores

Fred’s closing 104 more stores

MEMPHIS — Fred’s Inc. announced Thursday it is closing 104 underperforming stores as part of an “ongoing effort to rationalize its store footprint.” The new round of closings comes five weeks after the Memphis-based company started “going out of business” liquidation sales at 159 stores and follows an evaluation of store performance and timing of lease

Fred’s names Joe Anto permanent CEO

Fred’s names Joe Anto permanent CEO

MEMPHIS — Fred’s Inc. announced in a filing with the Securities and Exchange Commission that Joseph Anto is now the chief executive officer of the company, effective February 3. The board made the appointment on January 30. Previously, Anto served as Fred’s interim CEO as well as chief financial officer. Heath Freeman, chairman of the

Fred’s to move HQ from Tennessee to Texas

Fred’s to move HQ from Tennessee to Texas

MEMPHIS — Fred’s Inc. announced last month that it will soon be moving its corporate headquarters from Memphis to Dallas — a move that doesn’t come as a surprise. Fred’s, which is a general merchandise and pharmacy chain, recently listed job postings for a variety of positions, including director of human resources, corporate, digital marketing

Walgreens buys pharmacy files from Fred’s

Walgreens buys pharmacy files from Fred’s

DEERFIELD, Ill. and MEMPHIS, Tenn. — Walgreens and Fred’s announced today that they have entered into a definitive asset purchase agreement, where Walgreens will acquire pharmacy patient prescription files and related pharmacy inventory of 185 Fred’s stores located across 10 Southeastern states. Under the terms of the agreement, the aggregate consideration to be paid by

Fred’s pursuing sale of specialty pharmacy business

Fred’s pursuing sale of specialty pharmacy business

MEMPHIS — During its earnings call Friday, Fred’s Inc. announced it is evaluating options for its retail pharmacy portfolio and “actively pursuing a sale” of its specialty pharmacy business, as it reported financial results for the 2017 fourth quarter and fiscal year ended February 3. The company’s financial results were originally slated to be released

Fred’s looks to sell specialty pharmacy business

Fred’s looks to sell specialty pharmacy business

MEMPHIS — Fred’s Inc. has announced plans to sell its specialty pharmacy business. The disclosure led the company to delay publication of its fourth quarter and 2017 full-year results. An earnings call that was slated for today is now expected to be held May 4. A filing yesterday with the Securities and Exchange Commission says

Fred’s names successor to departing CFO

Fred’s names successor to departing CFO

MEMPHIS, Tenn. — Joseph Anto has joined Fred’s Inc. as executive vice president and chief financial officer, taking over from Jason Jenne, who is leaving the company. Anto comes to Fred’s from newspaper company MediaNews Group Inc. (DigitalFirst Media), where he was senior vice president of strategy and M&A. Jenne, who only served as Fred’s

Fred’s appoints new chairman, posts 2Q net loss

Fred’s appoints new chairman, posts 2Q net loss

MEMPHIS, Tenn. — Fred’s Inc. has named recently added board member Heath Freeman, president and founding member of Alden Global Capital LLC, as chairman. Also on Wednesday, Fred’s reported a net loss for its fiscal 2017 second quarter. Adjusted earnings per share (EPS) were in line with Wall Street’s forecast. Freeman, who joined the Fred’s board

Rite Aid, WBA move back FTC deadline

NEW YORK — Walgreens Boots Alliance Inc. (WBA) and Rite Aid Corp. are rescheduling the waiting period for a downsized store sale agreement reached upon the termination of their planned merger. According to recent filings with the Securities and Exchange Commission, WBA and Rite Aid agreed to withdraw their initial Hart-Scott-Rodino (HSR) Antitrust Improvements Act

Fred’s Pharmacy sees sales dip in August

Fred’s Pharmacy sees sales dip in August

MEMPHIS, Tenn. — Fred’s Pharmacy reported decreased sales for August despite an improvement in comparable-store results. Fred’s said Thursday that sales for the four weeks ended Aug. 26 totaled $153 million, down 4.2% from $159.7 million a year earlier. The company attributed the decline mainly to the closing of 39 underperforming stores in the first

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