Fred’s Closing Hope & Prescott Stores

MEMPHIS, TENNESSEE-Memphis-based Fred’s has announced plans to close what they call 159 under-performing discount stores across the country, including the stores in Hope, Prescott and Stamps. (The store in Nashville is unaffected.)

According to an April 11 U.S. Securities and Exchange Commission (SEC) filing, “The decision to close these stores is the result of a comprehensive evaluation of the company’s store portfolio, which examined historical and recent store performance and the timing of lease expirations, among other factors.”

The 159 stores are expected to close by the end of May.