Joe Anto

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 reports second quarter results

Fred’s reports second quarter results

MEMPHIS, Tenn. — Fred’s, Inc. reported financial results for the second quarter and six months ended August 4, 2018. Net sales down 4.3% to $419.7 million in second quarter 2018 versus $438.5 million 2017. Fred’s Interim chief executive officer and chief financial officer, Joe Anto, stated, “We are continuing to make progress against our two main

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