Freds Inc (FRED) ニュース

FREDQ: BK PLAN effective. All shares cancelled.

https://otce.finra.org/otce/dailyList?viewType=Deletions

As predicted...will see at least 70% drop tomorrow opening. Some just don't know how to cut their losses!

FRED changed to FREDQ. Delisted from the Daq to the OTC:

https://otce.finra.org/otce/dailyList?viewType=Additions

FRED Sad...https://whnt.com/2019/09/09/freds-declares-bankruptcy-closing-all-stores/

chap 11. Sell quick.

.03

Doubled our investment in less than a month and wait until it doubles again. This has been a real winner

Sell the pump and thank me later

Just made a huge gain on FRED and it’s going the beginning. We can see 100% plus gains in coming days/weeks

And I’m glad we bought into this stock as we are making money

Your absolutely spot on

Because they’re restructuring to set up for a buyout in my opinion.

Why? $FRED

Just took another purchase today so holding 250k shares and looking to top up this week to 500k

We see great potential here and willing to go long on this one ~ Lcbm77

"The Company is considering undertaking a reverse stock split, subject to shareholder approval and compliance with its debt agreements, in order to regain compliance with the minimum bid price requirement to allow for continued listing on the Nasdaq Global Select Market. If the reverse stock split is unsuccessful, the Company may seek to transfer to the Nasdaq Capital Market and thereby qualify for another 180-day compliance period. The Company cannot provide any assurances, however, that it will be able to regain compliance."

https://ih.advfn.com/stock-market/NASDAQ/freds-inc-FRED/stock-news/80161753/quarterly-report-10-q

I think long term, FRED is going to be a huge winner;

$13M Market Cap?????????

How does a company who has 500+ stores, plus 300+ pharmacies, has over a billion in revenue, only have a $13M market cap????


They closed their 120 most under performing stores, that means they kept the cream of the crop!

This company is like Dollar General meets CVS.

Once this mess clears, and FRED starts showing profit again, watch out, this stock should be in the $5-$10 range PERIOD

This is a long term perspective, maybe 18-24 months. But i am throwing a little bit of money into FRED every week.

* * $FRED Video Chart 06-05-2019 * *

Link to Video - click here to watch the technical chart video

Gonna be a massive drop here...

FRED’S TO CLOSE 104 UNDERPERFORMING STORES IN THE SOUTHEAST



MEMPHIS, TN, May 16, 2019 – Fred’s, Inc. (NASDAQ: FRED) today announced it will begin to close an additional 104 underperforming stores as part of an ongoing effort to rationalize its store footprint.



Fred’s decision to close additional underperforming stores follows a continued evaluation of the Company's store portfolio, including historical and recent store performance and the timing of lease expirations, among other factors. Liquidation sales at the 104 stores designated for closure will begin today while the Company’s other stores will remain open.



Joseph Anto, Fred’s Chief Executive Officer, stated, “These additional store closures are a difficult, but necessary step in the continued restructuring of Fred’s.”



Fred’s intends to close all 104 impacted stores by the end of June 2019. Fred’s has continued its partnership with Malfitano Advisors, LLC and SB360 Capital Partners to help manage the process and ensure a seamless experience for customers.



A list of impacted stores may be found at the end of this release.



Forbearance Agreement


Fred’s also announced today that it has entered into a forbearance agreement and amendment with its lenders under the Company’s revolving credit facility, as described in more detail in a Form 8-K filed with the Securities and Exchange Commission.



About Fred’s Inc.


Since 1947, Fred’s, Inc. has been an integral part of the communities it serves throughout the southeastern United States. Fred’s mission is to make it easy AND exciting to save money. Its unique discount value store 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.




https://www.sec.gov/Archives/edgar/data/724571/000161577419007975/s118373_ex99-1.htm

Great entry point now so time to make moves ~ buying back in the rebound ~ lcbm75

Don’t worry it’s back on the up and up over the coming weeks so just hold on. We are buying big these next few weeks so you will be just fine ~ lcbm75

Yikes it's a bloodbath today. I'm in at a $.62 average. Still holding but wishing I had some funds to average down with. Good luck to all

I was watching and played that bounce last week but got out only a few cents ahead. Glad I didn't hold and not planning on trying that with overall market looking to correct.

Added more at mid .57 today. Bring on the bounce.

I missed the bounce this morning. I am hoping for a similar one tomorrow or Friday. Bring on the value shoppers.

* * $FRED Video Chart 05-08-2019 * *

Link to Video - click here to watch the technical chart video

Good luck. Had a nice bounce early today. I loaded up around $0.62. Good luck to all

Thanks

have seen this type of result from brick and mortar retailers happen many many times through the years





Good call

Good call

Loaded up some .58's lets see if this one will bounce. Best to all here.

Rough day, but hoping for a nice bounce on this one. Best to all here.

Freddie's dead.

Yes. Getting worse.

So...FRED is expecting a Net Loss from continuing operations of about $144 million for the FYE Feb 2, 2019


https://www.sec.gov/Archives/edgar/data/724571/000161577419005969/s117532_nt10k.htm


"As a result of the foregoing, the Company’s net sales from continuing operations for the year ended February 3, 2018 will be reclassified to $1,395.8 million and its net loss from continuing operations for the year ended February 3, 2018 will be reclassified to $144.5 million, among other items. After giving effect to the reclassification of the Retail Rx Disc Ops Business for the year ended February 3, 2018, it is not anticipated that there will be a significant change in the Company’s results of operations for the fiscal year ended February 2, 2019, as compared to the results of operations with respect to continuing operations for the fiscal year ended February 3, 2018. "

Things getting worse for FRED


https://www.sec.gov/Archives/edgar/data/724571/000161577419005969/s117532_nt10k.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SEC FILE NUMBER

FORM 12b-25 001-14565
NOTIFICATION OF LATE FILING



CUSIP NUMBER

356108100



(Check one): ? Form 10-K ? Form 20-F ? Form 11-K ? Form 10-Q ? Form 10-D ? Form N-SAR
? Form N-CSR
For Period Ended: February 2, 2019
? Transition Report on Form 10-K
? Transition Report on Form 20-F
? Transition Report on Form 11-K
? Transition Report on Form 10-Q
? Transition Report on Form N-SAR
For the Transition Period Ended: ____________________________________________________________


Read Instruction (on back page) Before Preparing Form. Please Print or Type.
Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.


If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:



PART I – REGISTRANT INFORMATION



Fred’s, Inc.
Full Name of Registrant

N/A
Former Name if Applicable

4300 New Getwell Road
Address of Principal Executive Office (Street and Number)

Memphis, Tennessee 38118
City, State and Zip Code


PART II – RULES 12b-25(b) AND (c)



If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)



? (a) The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
(b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
(c) The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.








PART III – NARRATIVE



State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.



Fred’s, Inc. (the “Company”) is delayed in preparing and filing its Annual Report on Form 10-K for the fiscal year ended February 2, 2019 (the “Form 10-K”) by the April 18, 2019 filing due date applicable to accelerated filers. The Company expects to file the Form 10-K on or before the fifteenth calendar day following the prescribed due date. Should the Company be unable to file the Form 10-K by such date, it will continue its efforts to file the Form 10-K as soon as practicable thereafter.



On April 11, 2019, the Company announced a plan to close 159 underperforming stores (the “Plan”) and the Company’s expectation of related costs and impairment charges. The Company’s management, accounting and legal personnel continue to assess the impact of executing the Plan and analyze the accounting impact thereof, which have contributed to the Company’s delay in preparing and filing the Form 10-K.



The foregoing circumstances have delayed the preparation and review of the Form 10-K and have made the timely filing of the Form 10-K impracticable without undue hardship and expense to the registrant.



Forward-Looking Statements



Statements in this notification about the expected timing of the filing of the Form 10-K and the Company’s results of operations, other than historical facts, constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements.



All forward-looking statements speak only as of the date hereof and are based on current expectations and involve a number of risks, uncertainties and assumptions that could cause the actual results to differ materially from such forward-looking statements, including, among other things, the time needed for the Company to finalize and file its Form 10-K, and to continue to assess the impact of executing the Plan and analyze the accounting impact of the Plan. Unless required by law, the Company expressly disclaims any obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.



PART IV – OTHER INFORMATION



(1) Name and telephone number of person to contact in regard to this notification


Joseph M. Anto (901) 365-8880
(Name) (Area Code) (Telephone Number)


(2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s). Yes ? No ?






(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?
Yes ? No ?




If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.










It is anticipated that there will be a significant change in the Company’s results of operations for the fiscal year ended February 2, 2019, as compared to the previously reported results of operations for the fiscal year ended February 3, 2018, due to the Company’s presentation of the results of operations for a portion of its retail pharmacy business (the “Retail Rx Disc Ops Business”) as discontinued operations in accordance with ASC 205-20, Results of Operations – Discontinued Operations. The results of operations of the Retail Rx Disc Ops Business for the year ended February 2, 2019 will be presented as discontinued operations in the financial statements included in the Company’s Annual Report on Form 10-K for the year ended February 2, 2019 (the “Form 10-K”), and the results of operations of the Retail Rx Disc Ops Business for the year ended February 3, 2018 will be reclassified to conform with such presentation. As a result of the foregoing, the Company’s net sales from continuing operations for the year ended February 3, 2018 will be reclassified to $1,395.8 million and its net loss from continuing operations for the year ended February 3, 2018 will be reclassified to $144.5 million, among other items. After giving effect to the reclassification of the Retail Rx Disc Ops Business for the year ended February 3, 2018, it is not anticipated that there will be a significant change in the Company’s results of operations for the fiscal year ended February 2, 2019, as compared to the results of operations with respect to continuing operations for the fiscal year ended February 3, 2018. The financial information included herein consists of preliminary unaudited results, which will not be final until the Company files its audited financial statements in the Form 10-K. Actual results may differ materially from these preliminary unaudited results.







Fred’s, Inc.

(Name of Registrant as Specified in Charter)



has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.



Date: April 18, 2019 By: /s/ Joseph M. Anto
Name: Joseph M. Anto
Title: Chief Executive Officer and Secretary


INSTRUCTION: The form may be signed by an executive officer of the registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive officer), evidence of the representative’s authority to sign on behalf of the registrant shall be filed with the form.


ATTENTION

Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).

Oops! Looks like FRED's store closings made the front page of the CNN news website:



https://www.cnn.com/2019/04/11/business/freds-closings/index.html

yep, bankruptcy is many times the ending story of these badly performing brick and mortar store companies


Agreed, then bought on the cheap. Unless the suitors just wait them out and buy it in bankruptcy court.

Agreed, then bought on the cheap. Unless the suitors just wait them out and buy it in bankruptcy court.

when continued drops in revenues at most stores occurs and a massive amount of less producing stores are closed, a big time write-down will occur and the selling of the whole company is always an alternative, but probably at a price closer to $1.00/share

earnings are expected to be announce May 3rd and the 10K is due May 6th

it will be a disaster


I am almost wondering if this isn't getting prepared for a sale? Hire a consultant, dump the lease spaces, trim the fat; pad the balance sheet(i.e.-pharmacy sale to Walgreen's), then look for a prospective buyer(Dollar General, Dollar Tree, etc?).
No shares for me at the moment, but keeping it on my radar.

I am almost wondering if this isn't getting prepared for a sale? Hire a consultant, dump the lease spaces, trim the fat; pad the balance sheet(i.e.-pharmacy sale to Walgreen's), then look for a prospective buyer(Dollar General, Dollar Tree, etc?).
No shares for me at the moment, but keeping it on my radar.

Item 2.05. Costs Associated with Exit or Disposal Activities.



On April 5, 2019, the Board of Directors (the “Board”) of Fred’s, Inc. (the “Company”) approved a plan to close 159 underperforming stores (the “Plan”). The decision to close these stores is the result of a comprehensive evaluation of the Company’s store portfolio, which examined historical and recent store performance and the timing of lease expirations, among other factors. The Company intends to close the stores by the end of May 2019.



The Company is currently unable in good faith to make a determination of an estimate of the amount or range of amounts expected to be incurred in connection with the Plan, both with respect to each major type of cost associated therewith and with respect to the total cost, or an estimate of the amount or range of amounts that will result in future cash expenditures. The Company will file an amendment to this Current Report on Form 8-K after it determines such estimates or ranges of estimates.



The timing of the store closures is subject to change until finalized. The actual timing may vary materially based on various factors. See “Forward Looking Statements” below.



Item 2.06. Material Impairments.



The information set forth in Item 2.05 is incorporated herein by reference. On April 5, 2019, the Company concluded that a material charge for impairment is required in connection with the Plan. The Company is currently unable in good faith to make a determination of an estimate of the amount or range of amounts of impairment charge to be incurred in connection with the Plan, or an estimate of the amount or range of amounts of the impairment charge that will result in future cash expenditures. The Company will file an amendment to this Current Report on Form 8-K after it determines such estimates or ranges of estimates.



Item 7.01 Regulation FD Disclosure.



On April 11, 2019, the Company issued a press release announcing the Plan and the retention of PJ Solomon in connection with the evaluation of strategic alternatives as more fully described under Item 8.01 below. A copy of that press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.



Item 8.01. Other Events.



On April 10, 2019, the Company retained PJ Solomon to assist the Board in undertaking a comprehensive review of the full range of strategic alternatives available to the Company, which may include an evaluation of the Company’s current operating plan, as well as potential alternatives to maximize value.



The Company has not set a timetable for completion of the evaluation process. As the Company indicated in its press release, no decision has been made to pursue any specific strategic transaction or any other strategic alternative, and there can be no assurance that the Board’s exploration of strategic alternatives will result in the completion of any transaction or other alternative. The Company does not intend to discuss or disclose developments with respect to this process unless and until the Board has approved a specific transaction, or otherwise deems further disclosure is appropriate or if disclosure is required by applicable law.


https://www.sec.gov/Archives/edgar/data/724571/000161577419005625/s117373_8k.htm

Might not be a bad to time to consider this now. Bad news out of the way, as well as, all the Walgreens/Rite-Aid crap over with too. They do have a good core business. Takeover or merger could be distinct possibility as well. I'm just thinking out loud.

More bad news for FRED:


https://ih.advfn.com/stock-market/NASDAQ/freds-inc-FRED/stock-news/79644319/current-report-filing-8-k


ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.



Effective as of April 1, 2019, Nathaniel Klein’s employment as the Chief Operating Officer of Fred’s, Inc. (the “Company”) ended by mutual agreement with the Company.







SIGNATURES



Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



FRED’S, INC.
(Registrant)

Date: April 5, 2019 By: /s/ Joseph Anto
Name: Joseph Anto
Title: Chief Executive Officer

This guy is getting hit hard by shorts nearly 8 million last month 1/3 of the total float.

$FRED Beautiful Move :)

* * $FRED Video Chart 09-10-18 * *

Link to Video - click here to watch the technical chart video

Squeezing

FRED could run for a few days since most entered today. All indicators bullish, we'll see what big guys do AH. Tuesday gapper.

Just made 75% return on this stock today as earlier predicted

Easy money ~ lcbm

in on the New HOD
Average $2.79