Create an account to follow your favorite communities and start taking part in conversations. When Fry's suddenly closed down, it wasn't a shock to anybody. Eddie Antar- the scammers scammer. Frys Electronics is expected to close its entire chain of electronics superstores nationwide at midnight tonight. February 24, 2021 Over a series of 10 years things thinned out. Press J to jump to the feed. What's unusual is that they closed down suddenly with no warning and there was no "Going out of business sale" like virtually every other major retail store has had. Update 2/24/2021: Today Fry's Electronics has closed its door for good. A bank would have seized the assets already if it were possible. Can't stand how Costco "checks" my purchases while charging me a membership for the privilege of shopping there. My connection to Frys runs deeper than most. Our store was great. They had been in bankruptcy proceedings for what seemed like years and the stores continued to deteriorate. Basically Fry's is tired of being stuck with stuff that no one wants to buy for years while having to keep buying the latest. I havent been in a Frys in a long time. This is another sign of the retail apocalypse, as stores have been squeezed out by Amazons growth and the pandemic. I know Fry's has been a shadow of it's former self for a couple years now, but damnit this is sad. If you have questions, please contact us using the following email addresses: For customers who have equipment currently being repaired, please email customerservice@frys.com, to arrange for return of your equipment. To request service of your covered product, please call Assurant at (800) 811-1745 For consignment vendors needing to pick up their consignment inventory at Fry's locations, please email omnichannel@frys.com . There were hardly any cars in the parking lot, but then I saw someone leaving the store, empty-handed, which I should have taken as a sign, so clearly it was open. (BigStock Photo) Fry's Electronic's, the big-box chain that was a longtime, one-stop shop for tech enthusiasts, is shutting down. 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. They used to have a huge selection now just two options. Press question mark to learn the rest of the keyboard shortcuts. Just after Covid 19 hit do the stores' shelves get empty. The problem was that they started cutting back on even on products that weren't redundant, which made even some that preferred buying in retail to buy more online from NewEgg, Amazon, etc. Fry's Electronics August 2020 (Tempe AZ) Fry's Electronics reportedly changed over to a consignment model with manufacturers and distributors, which severely limited its inventory,. and help keep the future of New Times, Use of this website constitutes acceptance of our. It felt like being at an open casket funeral for a once great store. From tips for running a business, to pitfalls to avoid, /r/business teaches you the smart moves and helps you dodge the foolish. The San Jose, Calif.-based company. I've managed to survive. We may collect cookies and other personal information from your interaction with our Some called it the "Nerd Disneyland.". Host David Brancaccio spoke with Parker Hall, a . I don't know how this is possible but I hope they can do it. Honestly, though when I can remember some sizes of ethernet they couldn't keep in stock I can see why they gave up on that. That's not a huge advantage, but back in the day it was useful for sysadmins or just general people who needed something in a pinch. I decided that I was going to go to Fry's Electronics to buy a video card since there isn't a Micro Center in Las Vegas. Heatsinks, there were almost none and nothing of interest. Fry's Electronics is or was the place to go for almost anything that was considered electronics if you don't have a Micro Center where you live. Same scenario, big grand opening as Incredible Universe, then demise and re-opened as Frys. The company has been closing stores since January 2020, even before the pandemic struck. I wanted a new Klipsch subwoofer- none in stock. Join the New Times community and help support Banks can only go after the assets of the corporation not the owners when trying to recover debt. Having been going to Fry's since the first (original) Sunnyvale store on Oakmead, it is sad to see it flounder. Joshua Schlag Agree to disagree here. To the disappointment of many, Fry's Electronics has announced that they will be permanently shutting down all their stores. To view or add a comment, sign in, Fond memories, Scott, of both Frys' and your own generosity in those start up school days and years. Indianapolis was a shell when I went there last week. Sadly we moved away from the Bay Area in 2004. I do not remember the source of the article, or know if it was accurate. They had everything, CPUs, memory chips (yes chips), transistors, caps, computers, video cards, soldering supplies, books on everything I ever wanted to know, you name it and if a nerd wanted to buy it Frys sold it. Press question mark to learn the rest of the keyboard shortcuts. Back in the day, one average sales guy could easily sell tens of thousands of computers. What's unusual is that they closed down suddenly with no warning and there was no "Going out of business sale" like virtually every other major retail store has had. For customers with items needing repair under a Performance Service Contract, please call (800) 811-1745. Fry's Electronics Has Gone Out Of Business, Closing All Stores Nationwide February 24, 2021 / 7:39 AM / CBS DFW NORTH TEXAS (CBSDFW.COM/CNN) It was a move that happened suddenly,. As their prices became less competitive more of their price conscious customers flocked to the Internet forcing them to raise prices more alienating even less price conscious customers. Update 11:59 a.m. on 2/24/21: Frys confirmed the reports on its web page: After nearly 36 years in business as the one-stop-shop and online resource for high-tech professionals across nine states and 31 stores, Frys Electronics, Inc. (Frys 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. It's like a ghost town. Thank heavens we still ahve the Tustin MicroCenter - for now. Same in Renton, WA. /r/business brings you the best of your business section. 3. Reports from Bill Reynolds and Matthew Keys surfaced today, and the rumors. Now I should make it clear that Id originally moved to the Bay Area back in April of 1994, and the first time a friend brought me to Frys I almost cried. The Frys stores are huge warehouses that often occupy prime real estate. Hope all is well with your family and work. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Please understand if we are a bit slow to respond given the large volume of questions. 1997 was my first trip to Frys. It was as if Radio Shack and Heathkit had mated, produced a child and now it was fully formed into this beautiful mecca of electronics retail. He explained that this was the store of no return, meaning that everything that was in this huge warehouse was returned to Frys, but that Frys couldnt return this stuff back to the distributors or manufacturers so it ended up here. Whenever a line formed at the exit, I just walked past it. Fry's Electronics in Campbell, California. awezomerobot . It was tragic really, I remember all the fun I had there as a child. Also Fry's grocery stores are still going strong in Arizona. Every time I go in to spend the money I cant find anything on the shelves worth buying. Join the GamesBeat community online, February 1-2, to examine the findings and emerging trends within the metaverse. The one in San marcos is mostly empty, and they say they're waiting for new stock to come in. Fry's is now trying to get their stores filled up with stuff for free, and then pay their suppliers when the items ship. GamesBeat's creed when covering the game industry is "where passion meets business." What happened to Fry's Electronics? John was the one who came up with the basic concept for Fry's Electronics, which was based on the co-founders' familiarity with selling groceries. Consumer electronics retailer Fry's Electronics is going out of business after nearly 36 years. 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. Make a one-time donation today for as little as $1. John said that we could take whatever we wanted for the school, just as long as we made sure we kept a list of whatever was taken, then place what they were donating on pallets in the front and bring our own trucks to haul the pallets of stuff away. I'll be surprised if they make it but I hope they do. Back in '05 I remember working at Fry's and with the exception of Costco Fry's return policy was better than others (CompUSA, BestBuy, Circuit City, etc.). For more information on the categories of personal information we collect and the purposes we use If an item sells, the vendor gets paid, but at no point does Frys buy the goods. When I pulled into the parking lot off Hamilton in Campbell, I thought perhaps the place might be closed. I mean, EVERYONE knows that Fry's is a ghost town. But when they tried to become an electronics . Perhaps people were having holiday brunch with their families, who knows maybe there was some game drawing the crowds. Back in the day Fry's opened at 8am so anyone whose laptop died in the morning had little choice to go to to Fry's. 01:15. So they basically sold what they could and sent the rest back. Nothing in the store, shelves were all empty. I also visited not too long ago and it was a real ghost town. Perhaps they had some blow out sale Id missed, so I found one of the few associates on the floor and asked WTF (you can guess)? The Great recession cut retail sales dramatically killing Circuit City. Revealed: group shaping US nutrition receives millions Nike says Kyrie Irving is no longer one of its athletes, Texas Gov. I've read that Fry's claims it's only closing the San Jose store. website. Im curious what is going to replace those stores, as they will leave gaping holes in retail centers and malls around the country. Fry's Electronics was an American big-box store chain. I spent the remainder of that spring and summer building working systems at the school from this shipment so that when the school opened in September 2001, we had several computers in each classroom, a computer on each teacher's desk, and computers in the office for all the staff. Subreddit for current and former employees to talk about Fry's Electronics. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. The exterior of Fry's Electronics in Tempe. They had everything, CPUs, memory chips (yes chips), transistors, caps, computers, video cards, soldering supplies, books on everything I ever wanted to know, you name it and if a nerd wanted to. I'll never forget that warehouse visit either. Check out all the on-demand sessions from the Intelligent Security Summit here. Fry's gutted pretty much all of them over the last ~12 years. Better use it up on a shitload of DVDs/CDs before they go belly up or you're gonna be out on that. Id really be surprised if theyre in business by the end of the year. We want to tell you how the news matters to you -- not just as a decision-maker at a game studio, but also as a fan of games. Even after the recession largely Fry's never really fully rebounded whereas selection and it seemed like every couple months selection thinned. The latest theory is that the owners are draining the assets until either the banks finally seize the property or the lights go off. Heck, even Microcenter and to a lesser degree Best Buy became better on some pricing. Fortunately for the school, the dotcom Id been working for up until February of 2001 had burned out, so I had plenty of free time to supervise the ramp up for the first day of the school. Fry's Electronics came into existence in 1985, in Silicon Valley. The Company ceased regular operations and began the wind-down process on February 24, 2021. Regards, M. Well written Scott - lots of memories. Best Buy's website isn't perfect, but it is more useful than Fry's and their store inventory is typically more accurate. Back in 00s Fry's was pretty successful for 3 major reasons: great selection (at least for retail), competitive prices (for retail) and a decent return policy. They didn't have a single laptop. While operating, it was headquartered in San Jose, California in Silicon Valley. I think some of it was natural in that as older less Internet friendly customer died and were replaced by younger people who grew up using Amazon, NewEgg, etc. Frys started out as a supermarket chain in California. It was an electronic hobbist dream. I just wanted to some solder. It's my go-to place for cables, SD cards, components, small tools, stuff that ordering online kills you on shipping. John Came Up with the Basic Concept. Whether you read our articles, listen to our podcasts, or watch our videos, GamesBeat will help you learn about the industry and enjoy engaging with it. Damnit. Im an electronics nerd and thought Id pick up a new Fluke Multimeter. Very little of what was left on the shelves was even remotely interesting, I took a stroll down the Video cards isle looking for Nvidia 1080Ti or 2080Ti cards, or perhaps an AMD Radeon VII, but everything on the shelf was older, slower, and smaller (memory capacity). local news and culture, Benjamin Leatherman Fry's retailed software, consumer electronics, household appliances, cosmetics, tools, toys, accessories, magazines, technical books, snack foods, electronic components and computer hardware. To view or add a comment, sign in One just vanished: Fry's Electronics, a big-box store in nine states that shut down abruptly this week. I always hated having to let employees check my bag on the way out. please view our Notice at Collection. Frys did OK back with their original business model as a "convenience store" for electronic components in Silicon Valley. I went to the Frys in Austin a couple of days ago. Failed to scale back to core tech. Create an account to follow your favorite communities and start taking part in conversations. The Fry family opened its first electronics store in Sunnyvale, California in 1985. They can't be making payments on their debt unless they're drawing cash from some other source. At this rate, I wouldn't be surprised if GameStop bought all the inventory and Ryan Cohen is behind it and helping them to expand further into the ecommerce sphere. Sorry to seem them go! Fry's Electronics suddenly closed all of its stores overnight, ending a nearly four-decade run in business. Their creditors know it. One of the other stores is in Wilsonville, Oregon (~15 miles south of Portland, OR). Dinner last night with my cousin, also a technology nerd, proved just as fruitless, neither had been to Frys in some time, and both were unaware of its pending demise. What does this mean? And why would they do that? Everyone knows it's all a deterrent show of force; every employee spends half a second to highlight my receipt, not going through my bags counting item by item. Fry's gutted pretty much all of them over the last ~12 years. Did they get bought out by a competitor?Did another company get such a good deal on all their inventory it was worth shipping it to a central location?Did somebody buy the debt and is making a play for a new B&M or ecommerce site in the near future? them for, Fry's Electronics operated stores across nine states. When other than right AFTER Christmas would anyone expect them NOT to have any stock in the store? They also had better store hours than Best Buy, but I think that was more minor. Phoenix's independent source of He said that about three or four months ago theyd moved to a consignment business model. Stocked shelves full of all sorts of items from 555 timers to TVs to appliances. The frys in El Segundo was a ghost town the other day as well. Every time I travel out west, it was always a treat to window shop (it has been decades since I had a soldering iron in my hand) at Frys. Under the consignment model, vendors assume the risk of shipping goods to Frys. Las Vegas businessman arrested in alleged Press J to jump to the feed. This can sound rather strange in modern times, but it is important to remember that Fry's Electronics was founded in 1985. Become a member to support the independent voice of Phoenix Everything seems to still be under wraps, so it'll be very interesting when we see what happens next. !. If the owners take out all the assets all at once the banks can claim fraud. The Palo Alto Fry's I habituated closed at the end of 2019, whereupon my own relationship with the company pretty much ended. But I'm glad I got to see Fry's in . Greg Abbott bans TikTok on state devices. Even when the end finally came (which we workers found out when the locks were changed in the middle of the night and we couldn't get into stores) he managed to fool the dummies who took the place over into believing he had $80,000,000 more in on-hand inventory than actually existed. So yesterday I was standing in the Campbell store looking at empty or near-empty shelves, almost no customers, and it was just two weeks before Christmas. Sounds like an opportunity for private equity. Later in the day on Sunday Id had lunch with a close friend whod originally brought me to the Bay Area back in 1994, and I asked him WTF happened to Frys? and he was clueless. By 2018 things were pretty spartan and I think the last pity purchase I made at Fry's was maybe 2015-2016. Like everyone else is reporting, the shelves were empty. The falling inventory reduced their economies of scale to buy things, which hurt their ability to compete on pricing. It's a historical relic seeing all the parts from 12-15 years ago in ready to sell condition. They can't possibly be pulling the wool over anyone's eyes that they are implementing a viable turnaround plan. Serious;y??? It's like a ghost town. Fry's Electronics is expected to close its entire chain of electronics superstores nationwide at midnight tonight. Then floor stacks vanished. Fry's just always was a step behind the competition with the Internet. And yes, very sad and a sign of the times. By 2021, Fry's Electronics had become an underdog struggling against much larger, more dominant retail channels. Frys always bugged me because it felt like going to a crazy disorganized Best Buy and then having to do that whole thing on the way out. It was a destination to show people when they came to visit from . Each store had a unique theme, and they were huge, selling everything from potato chips to computer chips. I asked Frys for comment today, but my spokespersons email bounced back. Also if you want to just talk about the company that's cool too. Fry's Electronics permanently closing all stores nationwide. New York CNN Business . The chain grew to dozens of big-box electronics retail stores over the ensuing decades. Both though pointed out the obvious, while Amazon hadnt directly killed Frys, it had starved it of enough revenue that their poor business model and inability to adapt to the changing online marketplace had left them vulnerable. I said you mean a "going out of business model, youre kidding me, right?" An article that I read at the time they announced going out of business stated that almost all of their inventory was on consignment, so they simply packaged it up and returned it to the manufacturer/supplier. Now they are starting over and slowly rebuilding the inventory. I still have a store credit at frys from 2018 when my Nintendo switch broke and they didnt have another to replace it with (extended warranty) They refunded full price of the switch and prorated the warranty purchase. The Aztec-themed Fry's Electronics on Thunderbird Road in north Phoenix. John F ReaganI don't love it at Costco, but it's a membership store and checking cards + receipts somehow seems more acceptable. The iconic chain of electronics range from Western to Mayan, and they were stocked with anything and everything electronic: Routers, motherboards, coffeemakers, refrigerators, office furniture, perfume, candy bars, and computers. Their bankers know it. And it appears vendors werent eager to take the risk. Assuming everyone might be a shoplifter didn't make me feel good about shopping there ever. It was classic Silicon Valley. Seems totally unnecessary given the clientele and I would love to be privy to the data that supports the executive decision to be so obnoxious. I'm honestly surprised more stores haven't closed yet because my local store has looked dead for the last 3-4 years. The Company appreciates your patience and support through this process. Please understand if we are a bit slow to respond given the large volume of questions. 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 Companys assets for its creditors and other stakeholders. 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