WINONA – Nearly two years after the Fred’s Dollar Store in Winona closed its doors following a corporate bankruptcy, a retail development is planned for its vacated building.
A Florida-based investor, Sanjeev Kumar, has purchased the building with plans to open several retail businesses in the space.
Kumar, who is from Port St. Lucie, Florida, will open Karts, a value retail store and discount pharmacy, as well as a liquor store by August. Initially, the development will create eight to 10 jobs with more possible as he adds to the development.
“I am opening a value store, selling groceries, housewares, clothing,” he said. “Anything and everything you need and at a discounted price.”
Kumar said he was led to Winona after looking into purchasing several buildings that once housed Fred’s Dollar Stores to launch his new enterprise, Karts.
“Winona will be the first one,” he said. “A second one will be in Canton, and we are looking at a few more. I see a lot of opportunity in Mississippi. Value is usually what I seek.”
With his current focus on opening Karts, Kumar said he has plans for future retail opportunities on the south end of the building that is currently incomplete.
In Florida, Kumar has invested in pharmacies, with his wife, Sonia, and him both pharmacists by trade, however, in Mississippi, he is focusing on retail to “provide value at a discount.”
Kumar said in Mississippi, and especially in Winona, he sees the growth potential of the area over the next 20 years. He said with the low cost of living, temperate climate, welcoming community, and good leadership, his investment in Winona is not limited to retail development.
“I love Winona,” he said. “It’s small but big enough. There are many opportunities here. There is no other place in Mississippi like it with two highway crossings.”
Kumar said he has purchased 101 acres in the community, as well as the former Shady Glen Assisted Living facility located on Highway 82 in Carroll County, near the Montgomery County line. He said he has yet to determine how he plans to use the former assisted living facility, but he may lease the property out for corporate retreats or short-term housing for those working in the area temporarily.
“I’m investing in land here as well,” he said. “I bought 101 acres, and I’m going to invest more in the future. I’ve also purchased a few rental properties as an investment, and I’m going to purchase a few more.”
Kumar thanked Winona Mayor Jerry Flowers and Montgomery County Economic Development Partnership director Sue Stidham for their help bringing his business in Winona.
“Jerry [Flowers] has been very helpful,” Kumar said. “He has promoted Winona and has done a lot to attract new businesses. I wish the state would do more, but he has tried to help me in any way he can. And Sue [Stidham] has been very instrumental [in bringing us here].”
