Fred’s stores will soon shut their doors for good as the Memphis-based company announcing Monday that it filed for chapter 11 bankruptcy.

The company will also begin to wind down its operations as it has begun a liquidation sale at all of its locations.

Fred’s started in 1947.

Hundreds of Fred’s locations have already closed over the past several months. The remaining stores are expected to close over the next 60 days.

The company will continue fulfilling pharmacy prescriptions while it continues to look for a buyer for its pharmacies.     MORE