SB360 to Conduct Store Closing Sales at Certain Fred’s Stores Throughout the Southeast
BOSTON, Massachusetts – April 11, 2019 – SB360 Capital Partners (www.sb360.com), one of North America’s leading asset disposition specialists, has been retained as the exclusive consultant to conduct “Store Closing” Sales and other clearance events for Memphis based Fred’s Inc., a discount value retailer with 557 stores throughout the Southeast. The Store Closing Sales operated by SB360 start today 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.”
Mr. 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.”
About SB360 Capital Partners, LLC: SB360 Capital Partners (www.sb360.com), a Schottenstein Affiliate, helps businesses manage change, restructure assets, and turn around dwindling profitability. SB360 makes equity investments to infuse capital for growth opportunities, fund turnarounds, and provide liquidity to businesses experiencing change. SB360 acquires assets of all types including inventory, fixed assets, intellectual property, real estate, and complete business units. The firm’s asset disposition services range from providing guaranteed asset value recovery to acting as a liquidation consultant. Additionally, SB360 has entities engaged in real estate advisory, commercial real estate investment, and the operation of the SBC Logistics Asset Recovery Center in Columbus. A lending affiliate, Second Avenue Capital Partners, provides asset-based loans for middle market companies. The principals of SB360 hold extensive commercial interests in national retail and wholesale operations; internationally recognized consumer brands; commercial, residential, and industrial real estate properties; and financial service operations.
About Fred’s Inc.: Since 1947, Fred’s Inc. has been an integral part of the communities it serves throughout the southeastern U.S. Today, Fred’s operates approximately 557 discount value stores and its mission is to make it easy AND exciting to save money. Its unique format offers customers a full range of value-priced everyday items, along with terrific deals on closeout merchandise throughout the store. For more information about the Company, visit Fred’s website at www.fredsinc.com.