Thread regarding Fry's Electronics layoffs

The Renton store

I think it's no longer just 'how can they be open while selling no merchandise?' Few random interesting discussion threads on reddit about how they could be doing some finance shenanigans like extending themselves credit from themselves to pay themselves as both owners and operators of the corporation and properties, and the debt incurred is written off and then don't have to pay taxes on the negative income, etc, etc. I don't pretend to know the ins and outs (or even really the basics) of corporate tax structure and loopholes, but might be what we're seeing here.

Essentially starting to sound like the longer they stay open and the less money they make, the less taxes they have to pay when the whole thing finally implodes, all the while paying themselves out of their own debt. Whatever is going on, it seems to be way past when any normal store would be able to stay open without having employees or stuff to sell.

The Renton store I know is getting close to a year since I noticed the stock was starting to dwindle, and probably 6-8 months since it's been just empty. Nobody could stay open through that unless there was some creative money shuffling going on.

Post ID: @OP+12sqNYlO

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