Fry’s Electronics announces it is ‘permanently’ shutting down operations
(The AEGIS Alliance) – Fry’s Electronics is abruptly shutting down all of its operations.
The retailer chain of electronics has announced it’s shutting down all of its store locations and is “permanently” shutting down its business as a result of the COVID-19 pandemic and “changes in the retail industry.”
While the corporation stated it’s going to start winding down its operations on Wednesday, Fry’s Electronics website is already vacated and now only displays the announcement of the closures.
“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,” Fry’s wrote in part of the announcement.
Fry’s Electronics was founded in 1985 and was based in San Jose, California. The technology retailer had 31 stores throughout nine states, mainly within the western United States.
Fourteen of the Fry’s locations had been in California, with 8 more in Texas, San Francisco news outlet KRON wrote. Washington, Oregon, Arizona, Illinois, and Georgia had been among the other states with at least one of its store locations.
The company’s sprawling venues offered software and electronics, with employees also providing expert tech help and repairs.
Fry’s statement reads in part that “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.”
Kyle James Lee – The AEGIS Alliance – This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
