SB360 Capital Partners has been retained as the exclusive consultant to conduct “store closing” sales and other clearance events for Memphis based Fred’s, a discount value retailer with 557 stores throughout the Southeast. The store closing sales operated by SB360 started April 11th in 159 Fred’s stores in 13 states. Running concurrently to the store closing event will be “total inventory blowout” sales in 360 of Fred’s ongoing stores. The inventory blowout event will bring comparable values to the many communities Fred’s serves as the company looks to run a clearance event.
Fred’s was founded in 1947 and serves small communities throughout the southeastern United States. Fred’s offers value-priced products across categories that fulfill everyday needs – food, fresh goods, snacks, soda, toiletries, over-the-counter medications, household products, hardware, sporting goods, lawn & garden, toys, and much more. Aside from big-box competitors, Fred’s is frequently the dominant value retailer in the communities that it serves.
Ziggy Schaffer, executive vice president of SB360, said, “The store closing and total inventory blowout events will bring value on top of value.”
Schaffer continued, “Fred’s stores bring the everyday necessities closer to home, and they do it at discount prices. We’ll be offering discounts off the lowest marked price on everything in these stores. That means exceptional value for Fred’s loyal shoppers.”
While most of the Fred’s stores are located in smaller communities, large crowds are anticipated. “We see it all the time,” said Aaron Miller, executive vice president of SB360. “When stores with a loyal shopper like Fred’s have a store closing or inventory blowout event, word spreads quickly. Shoppers line up and they’re filling their carts from day one. They know values like this don’t come along every day. We encourage shoppers to take advantage of this opportunity while supplies last.”
