After 36 years in business, Fry’s Electronics is looking it quits, with a Goodbye message displayed on its web site.
The iconic California-based retailer is permanently closing all of its stores nationwide.
In a letter revealed on the firm web site, the Electronics retail big wrote:
“After nearly 36 years in business as the one-stop-shop and online resource for high-tech professionals across nine states and 31 stores, Fry’s Electronics, Inc. (“Fry’s” or “Company”), has made the troublesome resolution to close down its operations and shut its business permanently because of adjustments in the retail business and the challenges posed by the Covid-19 pandemic. The Company will implement the shut down by an orderly wind down course of that it believes might be in the finest pursuits of the Company, its collectors, and different stakeholders.
The Company ceased common operations and commenced the wind-down course of on February 24, 2021. It is hoped that enterprise the wind-down by this orderly course of will cut back prices, keep away from extra liabilities, reduce the affect on our clients, distributors, landlords and associates, and maximize the worth of the Company’s belongings for its collectors and different stakeholders.
The Company is in the technique of reaching out to its clients with repairs and consignment distributors to assist them perceive what it will imply for them and the proposed subsequent steps.”
The Silicon Valley firm Started in 1985 with one retailer in Sunnyvale, California earlier than increasing to 9 states by 2019 working in 34 stores. It diminished the variety of the stores to twenty-eight as of January 2021, most of which have been situated throughout California and Texas.
There have been six stores in Northern California, eight in Southern California, eight in Texas, two in Arizona, and one retailer every in Georgia, Illinois, Indiana, Nevada, Oregon, and Washington.
Fry’s Electronics which was based by three Fry brothers – John, Randy, and Dave – and Kathy Kolder, aimed to “provide a one-stop-shopping environment for the Hi-Tech Professional,” promoting over 50,000 digital objects in every retailer, which ranged wherever between 50,000 to 180,000 sq. ft.