A retail store company that has been in business for 72 years will close its doors. Fred’s has filed for bankruptcy after losing money since 2015 and shutting down more than 200 stores earlier this year.
The company will seek nearly $35 million in funding through bankruptcy court to help it shutdown operation. There are only about 300 locations still open in Alabama, Georgia, Illinois, Florida and Texas. Liquidation sales will last for the next two months at remaining stores.