Every time I pass by my local Fry's I'm shocked to see it's still open. I used to love this place. It was my go to when putting together a desktop so out of nostalgia I still go in sometimes. To be honest, I really think I should stop. I'm not sure what's more depressing, the empty shelves or the few outdated products that are available. I keep hoping I'm going to walk in one day and see that things have turned around, but that seems less and less likely each day.
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They also own the developing company in some cases. Read the article on Renton converting to an apartment building. The same company that bought the land way back is the same one pitching the apartment idea and hiring a contractor to pre plan it. Its all owned by the Frys brothers. They are actively trying to tear down their own buildings to start a new type of business.
The Frys brothers also own the “renting” of a lot of the land their own businesses are on, for legal loopholes and ways to get tax breaks.
Yes, these b–tards are wasting my time.
I am an engineer and used to go to Fry's to buy parts, resistors, Etc..
Never again.
While they are technically 'open' it's more like they're just not closed while they look for buyers for the real estate the stores sit on. Probably some different tax advantages with rent and overhead costs if the stores aren't shuttered. I think in a round-about way they actually pay themselves the money since they have a separate company for the land holdings and probably get all kinds of crazy circular write-offs for the losses.* (* I am definitely no corporate tax attorney, just a guess)
Of the half dozen or so closed/closing so far I think all have been after some announcement of a 3rd party buyer/developer coming in.