Discount value retailer Fred’s has once again tapped SB360 Capital Partners as its exclusive consultant to conduct store closing sales in its 81 remaining locations.
SB360 Capital Partners has closed 442 Fred’s locations since April of this year.
Fred’s filed a voluntary petition for Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. The court gave interim approval yesterday to the retention of SB360 as a consultant for the sale.
The company expects to continue fulfilling pharmacy prescriptions at most of its pharmacy locations, while it continues to pursue the sale of its pharmacies as part of the court supervised proceedings.
Fred’s was founded in 1947 and serves small communities throughout the southeastern U.S.
