Discount retailer Fred’s Inc. has hired a financial adviser as it looks to downsize its store footprint and turn around its business, according to people familiar with the matter. The Memphis-based retailer is working with Malfitano Partners, an advisory firm run by turnaround veteran Joseph Malfitano, the people said. Mr. Malfitano recently worked as an adviser in Toys “R” Us Inc.’s bankruptcy.

Source: Wall Street Journal April 05, 2019 21:56 UTC