After 36 years in business, Fry’s Electronics is calling it quits, with a Goodbye message displayed on its website.
The iconic California-based retailer is permanently closing all of its stores nationwide.
In a letter published on the company website, the Electronics retail giant 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 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. The Company will implement the shut down through an orderly wind down process that it believes will be in the best interests of the Company, its creditors, and other stakeholders.
The Company ceased regular operations and began the wind-down process on February 24, 2021. It is hoped that undertaking the wind-down through this orderly process will reduce costs, avoid additional liabilities, minimize the impact on our customers, vendors, landlords and associates, and maximize the value of the Company’s assets for its creditors and other stakeholders.
The Company is in the process of reaching out to its customers with repairs and consignment vendors to help them understand what this will mean for them and the proposed next steps.”
The Silicon Valley company Started in 1985 with one store in Sunnyvale, California before expanding to nine states by 2019 operating in 34 stores. It reduced the number of the stores to 28 as of January 2021, most of which were located across California and Texas.
There were six stores in Northern California, eight in Southern California, eight in Texas, two in Arizona, and one store each in Georgia, Illinois, Indiana, Nevada, Oregon, and Washington.
Fry’s Electronics which was founded by three Fry brothers – John, Randy, and Dave – and Kathy Kolder, aimed to “provide a one-stop-shopping environment for the Hi-Tech Professional,” selling over 50,000 electronic items in each store, which ranged anywhere between 50,000 to 180,000 square feet.