Fry’s Electronics is expected to shut its entire chain of electronics superstores nationwide at midnight tonight. Reports surfaced at present from from Bill Reynolds and Matthew Keys, and the rumors have been confirmed by broadcaster KRON4.
The firm has been shutting shops since January 2020, even earlier than the pandemic struck. It additionally closed shops in Campbell and Anaheim in California, and in social media final 12 months there have been numerous reviews about how most of Fry’s shops had been operating out of stock and weren’t being restocked. I’ve requested Fry’s for remark at present however my spokesman’s e mail bounced again.
This is one other signal of the retail apocalypse, the place shops have been squeezed by the expansion of Amazon and the pandemic. Last 12 months, Fry’s mentioned it was transitioning its shops to a consignment mannequin.
Under the consignment mannequin, distributors take the chance of delivery items to Fry’s. If it sells, the seller will get paid. But on this mannequin, Fry’s doesn’t purchase the products from the seller. Under consignment, Fry’s has no accountability to keep the merchandise in a sellable situation and even preserve monitor of it in any respect. And it seems that numerous distributors didn’t take this threat.
Fry’s began out as a grocery store chain in California. The Fry household began its first electronics retailer in 1985 in Sunnyvale, California. The chain grew to dozens of big-box electronics retail shops over the following many years. Each retailer had a singular theme, they usually had been big. You may purchase all the things from potato chips to laptop chips at Fry’s Electronics. Around 2014, Fry’s had 34 shops nationwide.
The Fry’s shops are big warehouses that always occupy some prime actual property. I’m curious what goes to exchange these shops as they depart gaping holes in retail facilities and malls across the nation. I haven’t been in a Fry’s in a very long time, however like plenty of players, I’ve some fond reminiscences of looking via the aisles and I’ll miss it.
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