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VALDOSTA — Fred’s Inc. announced Thursday it plans to close 159 “underperforming” stores, including locations in Quitman, Adel and Thomasville.

Liquidation sales at the 159 stores targeted for closure will begin today while the company’s 398 other stores will remain open, according to a corporate statement.

Joseph Anto, Fred’s Chief Executive Officer, said in a prepared statement: “After a careful review, we have made the decision to rationalize our footprint by closing underperforming stores, with a particular focus on locations with shorter duration leases. Most of these stores have near-term lease expirations and limited remaining lease obligations. Decisions that impact our associates in this way are difficult, but the steps we are announcing are necessary. We will make every effort to transition impacted associates to other stores where possible.”

Fred’s intends to close all 159 impacted stores by the end of May, according to the statement.

Terry Richards is senior reporter at The Valdosta Daily Times.