Fry’s Electronics, a big-box retailer on the West Coast, announced on Wednesday that it was shutting down operations, effective immediately.
The company, which is based in San Jose, Calif., replaced the contents of its website with a statement that said it had ceased operations and had begun the winding-down process. The retailer blamed the shutdown on “changes in the retail industry and the challenges posed by the Covid-19 pandemic.”
“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,” the statement said.
Fry’s has 31 stores across nine states and has been in business for nearly 36 years, according to the statement.