Fry’s Electronics – a big-box retailer that grew rapidly in the 1990s with huge and sometimes wildly-stocked stores – suddenly announced that it was going out of business.
The San Jose, California retailer said in a Wednesday statement, “It has made the difficult decision to close its operations and permanently close its business as a result of changes in the retail industry and the challenges posed by the COVID-19 epidemic.” ” . “
The company – which operated 31 stores in nine states – was the size of the Walmart Supercenter in many locations despite focusing only on electronics and appliances – due to increased competition with Amazon before Coronovirus hit last year.
Some stores were crafted with a quirky theme, including a Palo Alto, California, decorated with a Steam engine and Phoenix, Aerys in an Old West theme. Resembled an Aztec temple. A Burbank, California., Location was inspired by 1950s sci-fi and crashed into a UFO, featuring aliens and figures of a giant octopus.
Rumors of Fry’s demise had been spreading at least since 2019 when it changed its suppliers to a consignment model and shoppers looked at bare shelves, according to reports at the time.
“It is hoped that winding down through this orderly process will reduce costs, avoid additional liabilities, reduce impact on our customers, vendors, landlords and associates, and for our creditors and other shareholders Will maximize the value of the company’s assets. ” “Fry said on his website.
The family run business in Sunnyvale, California, was founded by three Frye brothers, John, Randy and David, Fry. Some customers compared the series to a mashup of Radio Shack – another powerful electronics chain that went bust – and Best Buy.
“how sad!” a customer Condolences on Twitter. “It was like Costco of electronics. A giant combo of Best Buy and Radio Shack. And, Fry did it with style! “
RadioShack operates primarily as an e-commerce website, although some stores still exist because it twice filed for bankruptcy.
Fry said it is in the process of reaching both its vendors and customers who still have merchandise for sale or in fixed shops.
“Please understand that if we are a bit slow to answer a large amount of questions. The company appreciates your patience and support through this process, ”said Fry.
Leave a Reply