The Fred's discount chain is closing 159 stores, including several in the Chattanooga area.
Those on the closing list include stores at Ringgold, Tunnel Hill, Dayton and Jasper, Tn.
Fred's has been in business since 1947.
Officials said, “After a careful review, we have made the decision to rationalize our footprint by closing under-performing 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.”