Discount retail chain investigating possible breach

Fred's Inc., a Memphis-based chain that operates more than 650 discount general merchandise stores primarily in Southeast states, said it is investigating a potential data breach.

The chain recently became aware of a “potential data security incident” and immediately launched an investigation, a Fred's spokesman said Monday in a statement emailed to Business Insurance. It said it has retained a forensics firm, Alexandria, Virginia-based Mandiant, a FireEye Company, to examine its data security systems.

“It will be difficult to determine with certainty the scope or nature of any potential incident, but we will continue to work vigilantly to address any potential issues that may affect our customers,” the statement said.