The town of Rogersville's elected leader hopes the recent closure of a Fred's store won't severely impact his revenue stream.
Mayor Richard Herston said the store, located at 16100 U.S. 72, officially closed Aug. 31. The store's pharmacy remains open, but Herston didn't know how much longer it would stay that way.
The company announced Monday it would close its 300 remaining locations after filing for Chapter 11 bankruptcy. There were no stores in Limestone County. Other North Alabama locations include Hamilton and Red Bay. At the start of the year, the company operated more than 550 stores, according to published media reports.
A press release from Fred's said pharmacies would continue filling prescriptions, “while it continues to pursue the sale of its pharmacies as part of the court supervised proceedings.”
"Despite our team's best efforts, we were not able to avoid this outcome," said Joe Anto, chief executive officer at Fred's.”I want to thank all of our employees for their hard work and continued support of the company as we wind-down our operations."
Herston said he does anticipate “some impact” from the Rogersville store's closure but added there are other discount retail options. He's also optimistic the store's space, which is near a Pizza Hut, dental office and liquor store, would not be vacant for long.
“We hate to lose (Fred's), but I think we'll get somebody good there,” he said.