https://www.shacknews.com/article/122935/frys-electronics-rumored-to-permanently-close-nationwide-tonight
6 replies (most recent on top)
MicroCenter is looking to expand to Phoenix and Seattle. Obviously they're able to compete with online vendors. Look at Best Buy, they're doing a good job of operating both online and in store. 10 years ago Best Buy was a joke but they've managed to turn their ship around and compete with the big dogs online.
I've been in the market for a laptop for a few weeks and what newegg and amazon offer is a joke. These sites either have outdated laptops that are being sold by a 3rd party or what they offer is outdated.
My options for a laptop are either Best Buy or order directly from a System Integrator like Eluktronics.
Fry's problem was the fact that they didn't know what to keep in stock. They didn't know which items were popular and which ones weren't. One example was when I bought the Corsair Air 540 case from them. They got a limited amount of stock which sold out quickly. There was at least a couple dozen times that I went into Fry's for a particular item but I had to buy it online because it wasn't in stock at the store.
We stopped selling to them in 2019 (along with a bunch of other companies) and even had put them on a short leash mid 2018 when payments slowed down and communication stopped along with long time purchasers jumping ship. Never considered doing consignment with them, if they couldn't pay their bills when they had net 30 terms and took over 6 months to actually pay (yet their checks showed they paid within terms) This isn't something that happened overnight or even because of Covid. Covid prolonged the agony IMHO
The writing was on the wall years ago. The stores have been ghost towns for quite some time now.
Thee switch from DIY PC building to laptops coupled with the rise of Newegg and Amazon did them in. It was great having them around for several decades, though. Very useful to have before online sales became commonplace. There really wasn't anything like it.
Best wishes and good luck to all the Fry's employees who got laid off. I hope you all find new jobs soon.
The writing was on the wall before Covid. Indy was virtually empty of product Summer 2019.
Best Buy, Micro Center, Central Computers, etc. are doing fine.
"The Company will implement the shut down through an orderly wind down process that it believes will be in the best interests of the Company, its creditors, and other stakeholders.
"The Company ceased regular operations and began the wind-down process on February 24, 2021. 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..."
http://www.frys.com/