The Fred's Discount Store at 418 Howard St. has been shuttered for more than a week, and an official with the Memphis-based chain said the decision to close the downtown store was based purely on economics.
"The store didn't fit our mix anymore. It wasn't a prototypical layout for us," said Joey Bivins, a real estate official with Fred's.
Bivins said the store had been unprofitable for several years. "It was losing too much money for us. The decision was made to close the store."
The discount chain operates two other locations in Greenwood - one on West Park Avenue, and the other in the Eastgate Shopping Center on U.S. 82.
The downtown store shut its doors without notice, leaving many longtime customers without a nearby place to pick up household supplies and other necessities.
Anthony Ola, who owns Ola's Shoes near the former Fred's location, said the decision to close the store didn't make much sense.
"Fortunately, our business has been here for several years. I can't imagine them not having a good business there. Unfortunately, when companies develop a business model, they have a mind set that a store must have so many square feet. Once a store doesn't fit that model, they close it," Ola said.
Ola is a former president of the Greenwood-Leflore County Chamber of Commerce and presently serves on its Retail Committee. He is also vice president of Main Street Greenwood Inc., a downtown development group.
He said the block where Fred's once stood is headed for a renaissance, with many storefronts currently being renovated.
"We're real excited about the direction downtown is taking," Ola said. "Of course, anytime someone leaves that's unfortunate."
He remained optimistic about downtown's future.
"The best is yet to come," Ola said.
