The full statement from the company below.
“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.
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By Valerie Hernandez
Feb 25, 2021
Fry s Electronics suddenly closed all of its stores, which officially ends a nearly 36 years in business. Fry s had 31 stores across nine US states and made the announcement on its website saying that they made the difficult decision to shut down its operations and close its business permanently. The closure is due to the consumer shopping habits and the challenges from the coronavirus pandemic. 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.