The Fred’s discount store in Charleston soon will close, ending a decades-long relationship with the community.
News of the store’s fate came in a corporate press release Friday from Fred’s CEO Joseph Anto.
“While it is never easy to make decisions that impact our valued employees and customers, this initiative represents another necessary step in our continued efforts to stabilize our business by simplifying our store portfolio and product assortment,” he said.
Anto stressed that all of the Fred’s pharmacies, including the one in Charleston, will continue to stay open and be able to fill prescriptions.
The local Fred’s is one of 129 to be shuttered in the latest round of store closures by the reeling Memphis-based discount merchandise retailer.
It is the fourth mass closure announced by the company since April, when Fred’s had a reported 557 stores open. Once the most recently named batch locks its doors for good, the company will have roughly 100 left standing.
The Charleston Fred’s, like all of the others going out of business, is conducting an inventory clearance sale, which Anto said will offer a “compelling opportunity to purchase heavily discounted items for a limited time.”
Price markdowns were already underway early this week at the 304 W. Main St. store, which is expected to close in 30 to 45 days, or by the end of August at the latest.
Charleston Mayor Sedrick Smith said he is “disappointed” to learn of the planned closing, which had been rumored for months, and is concerned first for the workers losing their jobs, then for the potential impact on the city’s commercial district.
However, Smith said he is “committed to working with the property owner, economic development and Main Street program moving forward to ensure that the property will again be a vibrant spot in our downtown area.”
IN THE PHOTO: Shoppers exit Fred’s in Charleston Monday, three days after it was announced that the store will be closing. However, the Fred’s pharmacy will stay open. (Photo by Clay McFerrin)
