SAN JOSE, CALIF. — San Jose-based Fry’s Electronics has decided to shut down its operations and close business permanently as a result of changes in the retail industry and challenges created by the COVID-19 pandemic.
After nearly 36 years as a one-stop shop and online resource for high-tech consumers, Fry’s says it will implement a shutdown of its 31 stores across nine states through a wind-down process that will be in the best interests of the company, its creditors and other stakeholders.
Fry’s ceased regular operations and began the closing process today. The intentions of the wind-down process are to reduce costs, avoid additional liabilities, minimize the impact to customers, vendors, landlords and associates, as well as maximize the value of the company’s assets for its creditors and stakeholders.
Currently, Fry’s is in the process of reaching out to its customers with repairs and consignment vendors to help them understand the closing process and the proposed next steps.