FRY’S ELECTRONICS SHUTTERS AFTER 36 YEARS
After 36 years in business, Fry’s Electronics is permanently closing.
According to an online statement, the decision is a direct result of “changes in the retail industry and challenges posed by the Covid-19 pandemic.”
Fry’s ceased regular operations on Wednesday and will begin its wind-down process, which it believes to be “in the best interests of the Company, its creditors, and other stakeholders.” The wind-down will reduce costs, avoid additional liabilities, minimize impact on customers, vendors, landlord and associates while maximizing the company’s value for creditors and stakeholders.
The decision will impact 31 stores across nine states, as well as Fry’s online business. Fry’s has provided a plan detailed in their statement for customers currently engaged in electronic repairs, as well as vendors who need to pick up consignment inventory.
Photo by PATRICK T. FALLON/AFP via Getty Images
A closed Fry’s Electronic store is seen on February 24, 2021 in Manhattan Beach, California. – Fry’s Electronics, a longtime US retail group known for selling computers and accessories, abruptly shut down its 31 stores on February 24, 2021, citing the pandemic and changes to retailing. “After nearly 36 years in business as the one-stop-shop and online resource for high-tech professionals across nine states and 31 stores, Frys Electronics has made the difficult decision to shut down its operations and close its business permanently as a result of changes in the retail industry and the challenges posed by the Covid-19 pandemic,” said a statement on its website.