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Alden Issues Statement in Response to Fred's Announced Board Changes
Mar 8, 2017 - PR Newswire
Board and Executive Moves

Alden Global Capital LLC (together with its affiliates, "Alden"), a holder of nearly 25% of the outstanding common stock of Fred's, Inc. ("Fred's" or the "Company") (NASDAQ:FRED), today issued a response to Fred's announced appointment of new directors, Christopher W. Bodine and Peter J. Bocian, and CEO Michael K. Bloom, to the Company's Board of Directors (the "Board"). Alden also expressed its concerns with the Company's unacceptable operating performance, unwarranted dilutive equity issuance

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