Fred's will close 159 underperforming stores nationwide

Fred’s closing five East Texas stores

Fred’s closing five East Texas stores

Memphis-based retailer Fred's announced it will close 159 stores nationwide, and that includes numerous chain's stores in the Mid-South.

In a news release from the company, the stores were described as "underperforming and unprofitable".

The list includes 31 MS stores and three Coast locations including Gautier, Ocean Springs and Pascagoula, according to Fred's website.

Below are the stores in the Mid-South that will be closed.

For the full list of stores that are closing, see the Related Links section of the page.

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This closing is about 29% of Fred's current total of 557 stores. The majority of those stores being affected are located in Alabama, Georgia and Tennessee.

Sales at Fred's stores open at least a year fell 4.9 percent in the first nine months of 2018, compared with a year earlier.

Stores that have been staples of the American shopping tradition for decades are closing in large numbers.

By UBS' tally, more than 15,000 stores have been shuttered or announced closings around the the last two years.

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