During this unique time in the world’s history, many businesses around the world are struggling to keep their doors open. Because of the pandemic, COVID forced many industries to shut down due to social distancing regulations enforced by the government.
Now, Fry’s Electronics has been added to the list of businesses that have made the decision to close down permanently after almost 36 years of operating. Fry’s Electronics is a tech retail store that was founded in 1985 and had 31 locations scattered around nine states in the US. Fry’s Electronics was also a great home for gamers who were looking for computer repairs and custom PC building services.
Fry’s Electronics posted a public statement on the company website that served as both an explanation for the sudden termination and as an apology to its loyal customers. In it, Fry’s Electronics listed the reasoning for shutting down from changes in the retail industry and hardships from the Covid-19 pandemic. As of today, Fry’s Electronics has ceased all regular operations throughout every location.
Fry’s Electronics goes into more detail by saying the company is starting its “wind-down process” today in order to reduce costs, avoid any extra responsibilities, and minimize the effect of the sudden change on customers, vendors, and landlords. Fry’s Electronics believes this is the best move to ensure the value of the company’s assets and serves in the best interest of its creditors and stakeholders.
At this current moment, the company is reaching out to consumers with ongoing repairs and consignment vendors in order to work out how they will move forward from here. Fry’s Electronics encourages anyone else that has current business dealings with the company to reach out through phone and emails that are posted on the website. However, the company warns that it may take them a while to respond to deal with the large influx of questions. Fry’s Electronics ends the statement by saying it is appreciative of the public’s support and patience through this transition.
It is a sad day to see another business succumb to the ongoing struggles happening with the world. As the information was leaked yesterday, many gamers on Twitter reminisced about the past when Fry’s Electronics was there for them with PC repairs and good deals on video games. As the saying goes, don’t cry because it is over; smile because it happened. Hopefully, everyone affected by the closure will be able to overcome this hardship and find new opportunities in life.
Source: Fry’s
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