Fry’s Electronics is officially going out of business after 36 years. The somber news has been confirmed by the once-popular retail chain, which cleared out its website for a goodbye message explaining that it had ceased operations and began winding down its business today. Fry’s is blaming “changes in the retail industry” and the coronavirus pandemic for its closure.
“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 message reads. “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.”
Founded in Sunnyvale in 1985 by the three Fry brothers (John, Randy, and Dave) and Kathy Kolder, Fry’s Electronics was popular for being a “one-stop-shopping environment for the Hi-Tech Professional.” The retail chain will also be remembered for its themed stores, such as the alien-inspired location in Burbank, California, which featured a giant UFO crashing through the entrance.