Marketing
Fry's Electronic goes out of business in quiet fashion
March 1, 2021
Retailer Fry's Electronic closed all of its 31 U.S. stores last week with no fanfare or notice after 40-plus years in business.
The brand released a note on its website last week citing the COVID-19 pandemic and changing consumer shopping habits as reasons for shuttering the stores without any warning, according to a CNN report.
The company, founded in 1985, was a privately-held business launched by three brothers in the Fry family.
"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," Fry's stated on its website.
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