Fry's Electronics Closes All Stores
Posted on March 9, 2021
Fry's Electronics is going out of business and closing all of its stores. Fry's had 31 remaining stores in nine states.
Fry's faced continued growing competition from Internet retail giants like Amazon. Fry's then had to deal with the pandemic which reduced foot traffic.
Fry's explained the decision in a message on its website.
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., 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.
An article on Fast Company says the retailer started having stocking issues in 2019 before the Covid-19 pandemic hit. Fast Company says, "In 2019, Fry’s fell off a cliff. Once a technological horn of plenty, the stores suddenly had trouble keeping even a bare minimum of items in stock."
The pandemic was then the final nail in the coffin for the struggling retailer.