April 17, 2019
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THE POLK COUNTY 1168 Hwy 71 S • Mena, AR 71953 • 479-243-9600
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Fred’s Department Stores Closing 159 Locations Including Mena (MEMPHIS) Discount chain Fred's is joining the growing list of retailers shuttering stores amid slumping sales. The Memphis-based company announced Thursday that it would close 159 under performing stores by the end of May with "going out of business" sales starting Thursday as it looks to reduce its store footprint and "evaluate strategic alternatives." The announcement affects stores in Mena and 18 other locations in Arkansas. The retailer said in a statement that it retained investment banking advisory firm PJ Solomon to assess its options "to maximize value" and hired liquidation firms Malfitano Advisors and SB360 Capital Partners "to help manage the process and ensure a seamless experience for customers." When companies announce they are considering "strategic alternatives," it often involves a potential sale or restructuring. The closing stores represent nearly 29% of Fred's 557 stores and are located in 13 states, with Mississippi, Alabama, Georgia and Tennessee losing the most stores. Sales at Fred's stores open at least a year fell 4.9% in the first nine months of 2018, compared with a year earlier. In 2017, a deal for Fred's to acquire hundreds of Rite Aid or Walgreens stores collapsed when a mega-merger between the pharmacy giants deteriorated. Months later, Fred's announced it was considering "strategic transactions and alternatives for certain non-core assets," including real estate and specialty pharmacy business. Last September, Fred’s reached an agreement to sell the pharmacy patient prescription files and related pharmacy inventory of 179 Fred’s stores located across 10 southeastern states to Walgreens for $165 million.
Special Olympics Pics On Pages 12-14
Renovations Ongoing At Ouachita River School District
(ACORN) According to officials at the Ouachita River School District, the district is making some needed improvements that will make the district more efficient at being able to host various events and also give the school the ability of providing some much needed practice facilities for sports teams. Superintendent Jerrry Strasner stated
that the improvements made to the Acorn campus was done with no bonds being issued or having to be financed over a long period of time. In fact, the district was proud to have paid cash for the projects. Most of the inside work done to the Mary Davis Gym, commonly known as the Old Gym, has been completed. The gym was built in the 1950’s.
The approximately $500,000 project, included an Indoor Hitting Cages, resurfacing of the gym floor, new air conditioning and remodeled bathrooms. The Mary Davis Gym will see the most use for band and choir performances, amongst other events that will hold 500 to 600 people.
Polk County Schools Averaging A ‘B’ Grade Rating (MENA) The Arkansas Department of Education released on Monday, April 15th the 2018 Report Cards for all of the Polk County schools. All of the Mena Area School District facilities received a “B” grade rating. Those schools are Louise Durham Elementary
and Holly Harshmann Elementary, Mena Middle School and Mena High School. The Ouachita River School District facilities received a “B” grade rating at Acorn High School and Oden Schools, except at Acorn Elementary, which got a “C” grade rating.
All of the schools in the Cossatot River School District, Cossatot River High School, Umpire K-12, Van – Cove Elementary, and Wickes Elementary received a “B” grade rating in the recent evaluation.