SOCIAL CIRCLE, Ga. — The Social Circle store will be affected when Fred’s closes nearly two-thirds of its stores.

The Memphis, Tennessee-based company said Tuesday it will close 129 retail stores and hold inventory clearance sales at all of its locations.

Most of the remaining stores will be centered around a distribution center in Dublin.

“While it is never easy to make decisions that impact our valued employees and customers, this initiative represents another necessary step in our continued efforts to stabilize our business by simplifying our store portfolio and product assortment,” Fred’s CEO Joseph Anto said in a statement.

Fred’s is closing 14 Georgia stores, including the one at 1567 N. Cherokee Road. A store on U.S. 278 in Covington was part of the closure of 159 stores announced in April.

The company will retain 30 stores in Georgia after the latest round of closings.

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