Better use it up on a shitload of DVDs/CDs before they go belly up or you're gonna be out on that. Was quite amazing. It was nirvana for nerds. Later in the day on Sunday Id had lunch with a close friend whod originally brought me to the Bay Area back in 1994, and I asked him WTF happened to Frys? and he was clueless. Both though pointed out the obvious, while Amazon hadnt directly killed Frys, it had starved it of enough revenue that their poor business model and inability to adapt to the changing online marketplace had left them vulnerable. I do not remember the source of the article, or know if it was accurate. Same experience you had, but the Palo Alto location. Under the consignment model, vendors assume the risk of shipping goods to Frys. It's like a ghost town. It has closed stores in Campbell and Anaheim in California, and last year there were lots of reports about how most of Frys stores were running out of inventory and werent being restocked. Last year, Frys said it was transitioning its stores to a consignment model. Frys always bugged me because it felt like going to a crazy disorganized Best Buy and then having to do that whole thing on the way out. local news and culture, Benjamin Leatherman Eddie Antar- the scammers scammer. It was tragic really, I remember all the fun I had there as a child. John said that we could take whatever we wanted for the school, just as long as we made sure we kept a list of whatever was taken, then place what they were donating on pallets in the front and bring our own trucks to haul the pallets of stuff away. For customers with items needing repair under a Performance Service Contract, please call (800) 811-1745. Our store was great. The Company appreciates your patience and support through this process. Back in '05 I remember working at Fry's and with the exception of Costco Fry's return policy was better than others (CompUSA, BestBuy, Circuit City, etc.). !. I know Fry's has been a shadow of it's former self for a couple years now, but damnit this is sad. Fry's retailed software, consumer electronics, household appliances, cosmetics, tools, toys, accessories, magazines, technical books, snack foods, electronic components and computer hardware. One of the other stores is in Wilsonville, Oregon (~15 miles south of Portland, OR). Their creditors know it. Revealed: group shaping US nutrition receives millions Nike says Kyrie Irving is no longer one of its athletes, Texas Gov. Same scenario, big grand opening as Incredible Universe, then demise and re-opened as Frys. Fry's Electronics today announced that after nearly 36 years it's going out of business "as a result of changes in the retail industry and the challenges posed by the Covid-19 pandemic.". that retail would struggle. The Frys stores are huge warehouses that often occupy prime real estate. Honestly, though when I can remember some sizes of ethernet they couldn't keep in stock I can see why they gave up on that. They had everything, CPUs, memory chips (yes chips), transistors, caps, computers, video cards, soldering supplies, books on everything I ever wanted to know, you name it and if a nerd wanted to. Whether you read our articles, listen to our podcasts, or watch our videos, GamesBeat will help you learn about the industry and enjoy engaging with it. Now I should make it clear that Id originally moved to the Bay Area back in April of 1994, and the first time a friend brought me to Frys I almost cried. Serious;y??? And it appears vendors werent eager to take the risk. Consumer electronics retailer Fry's Electronics is going out of business after nearly 36 years. They also had better store hours than Best Buy, but I think that was more minor. We want to tell you how the news matters to you -- not just as a decision-maker at a game studio, but also as a fan of games. I asked Frys for comment today, but my spokespersons email bounced back. This is another sign of the retail apocalypse, as stores have been squeezed out by Amazons growth and the pandemic. /r/business brings you the best of your business section. It felt like being at an open casket funeral for a once great store. Indianapolis was a shell when I went there last week. He explained that this was the store of no return, meaning that everything that was in this huge warehouse was returned to Frys, but that Frys couldnt return this stuff back to the distributors or manufacturers so it ended up here. Fry's Electronics in Campbell, California. Having been going to Fry's since the first (original) Sunnyvale store on Oakmead, it is sad to see it flounder. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Banks can only go after the assets of the corporation not the owners when trying to recover debt. Fry's Electronics permanently closing all stores nationwide. I just wanted to some solder. My connection to Frys runs deeper than most. It's like a ghost town. Back in 2001, I was part of the launch team, and a founding board member, of the Charter School of Morgan Hill. (BigStock Photo) Fry's Electronic's, the big-box chain that was a longtime, one-stop shop for tech enthusiasts, is shutting down. I'll be surprised if they make it but I hope they do. If an item sells, the vendor gets paid, but at no point does Frys buy the goods. The San Jose, Calif.-based company. Assuming everyone might be a shoplifter didn't make me feel good about shopping there ever. To view or add a comment, sign in, Fond memories, Scott, of both Frys' and your own generosity in those start up school days and years. Fry's Electronics was an American big-box store chain. But if they present a half-baked turnaround plan and then just so happen to give themselves huge bonuses for such a genius plan that may convince bankruptcy courts that everything is legit. We may collect cookies and other personal information from your interaction with our Then parts of entire aisles were removed. After 2009 when the market tanked Fry's started cutting back on selection, which to a certain degree wasn't a bad idea because Fry's carried a lot of redundant products. Check out all the on-demand sessions from the Intelligent Security Summit here. Back in 00s Fry's was pretty successful for 3 major reasons: great selection (at least for retail), competitive prices (for retail) and a decent return policy. When I pulled into the parking lot off Hamilton in Campbell, I thought perhaps the place might be closed. There were hardly any cars in the parking lot, but then I saw someone leaving the store, empty-handed, which I should have taken as a sign, so clearly it was open. A bank would have seized the assets already if it were possible. They can't possibly be pulling the wool over anyone's eyes that they are implementing a viable turnaround plan. They didn't have a single laptop. Sad, but this day was coming fir a while. I've read that Fry's claims it's only closing the San Jose store. They also had better store hours than Best Buy, but I think that was more minor. Thanks for telling the story and eulogizing the Fry's we all loved. Sunday, I landed at SJC just before noon and having some free time decided to swing by Frys to pick up a CPU heatsink for a project Im working on, perhaps some waters and a six-pack of Coke. independent local journalism in Phoenix. Join the GamesBeat community online, February 1-2, to examine the findings and emerging trends within the metaverse. The company has been closing stores since January 2020, even before the pandemic struck. Microcenter last I checked took returns on them fine and their doing fine. They were in denial of the Internet for many years. to something that was worse then pretty much any other retailer. I decided that I was going to go to Fry's Electronics to buy a video card since there isn't a Micro Center in Las Vegas. The Great recession cut retail sales dramatically killing Circuit City. Metro Phoenix's Best Christmas and Holiday Light Displays in 2022, The 10 Sexiest Holiday Movies of All Time (NSFW), Metro Phoenixs Best Things to Do This Weekend: Adam Sandler, FuelFest, and More, All Elite Wrestling Is Coming to Phoenix in February 2023, 11 Nerdy Things to Do This December in Metro Phoenix, Metro Phoenix Things to Do This Week: Killer Santas, Suns vs. Celtics, and More. Back in the day, one average sales guy could easily sell tens of thousands of computers. Its a fitting lesson for us entrepreneurs - whats here today is easily gone tomorrow. I know the moment I saw a sign that said video cars were non-returnable I basically crossed Fry's off my list of places I would ever buy a video card. Heatsinks, there were almost none and nothing of interest. What does this mean? Their bankers know it. Create an account to follow your favorite communities and start taking part in conversations. Stocked shelves full of all sorts of items from 555 timers to TVs to appliances. This can sound rather strange in modern times, but it is important to remember that Fry's Electronics was founded in 1985. 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 Companys assets for its creditors and other stakeholders. Discover our Briefings. This video talks about the decli. After nearly 36 years in business as the one-stop-shop and online resource for high-tech professionals across nine states and 31 stores, Fry's Electronics, I. Damnit. However not undeserved. Frys did OK back with their original business model as a "convenience store" for electronic components in Silicon Valley. They had everything, CPUs, memory chips (yes chips), transistors, caps, computers, video cards, soldering supplies, books on everything I ever wanted to know, you name it and if a nerd wanted to buy it Frys sold it. Fry's Electronics came into existence in 1985, in Silicon Valley. Also Fry's grocery stores are still going strong in Arizona. They used to have a huge selection now just two options. Since 2019, its inventory of electronics continued to dwindle, and many shelves were instead filled with snack foods, office supplies and cleaning products. Press question mark to learn the rest of the keyboard shortcuts. It was a good run. Over a series of 10 years things thinned out. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. When Fry's suddenly closed down, it wasn't a shock to anybody. Host David Brancaccio spoke with Parker Hall, a . I remember standing in line for 45+ minutes in Natomas multiple Christmases when they had 100 registers open. Very little of what was left on the shelves was even remotely interesting, I took a stroll down the Video cards isle looking for Nvidia 1080Ti or 2080Ti cards, or perhaps an AMD Radeon VII, but everything on the shelf was older, slower, and smaller (memory capacity). They had been in bankruptcy proceedings for what seemed like years and the stores continued to deteriorate. To request service of your covered product, please call Assurant at (800) 811-1745 For consignment vendors needing to pick up their consignment inventory at Fry's locations, please email omnichannel@frys.com . For more information on the categories of personal information we collect and the purposes we use That's not a huge advantage, but back in the day it was useful for sysadmins or just general people who needed something in a pinch. Fry's just always was a step behind the competition with the Internet. Also if you want to just talk about the company that's cool too. Regards, M. Well written Scott - lots of memories. New York CNN Business . Elizabeth Holmess ex-Theranos partner gets nearly 1 McDonald's franchise owners are caught violating child UK recession could turn into a 'lost decade'. The problem was that they started cutting back on even on products that weren't redundant, which made even some that preferred buying in retail to buy more online from NewEgg, Amazon, etc. It's my go-to place for cables, SD cards, components, small tools, stuff that ordering online kills you on shipping. Back in 00s Fry's was pretty successful for 3 major reasons: great selection (at least for retail), competitive prices (for retail) and a decent return policy. Now they are starting over and slowly rebuilding the inventory. Since most of Fry's customers were at least somewhat price conscious this really cut their sales dramatically, which made it hard. The Company is in the process of reaching out to its customers with repairs and consignment vendors to help them understand what this will mean for them and the proposed next steps. Reports from Bill Reynolds and Matthew Keys surfaced today, and the rumors have been confirmed by broadcaster KRON4. Id really be surprised if theyre in business by the end of the year. I always hated having to let employees check my bag on the way out. 8:27AM. Nope, he was dead serious. Fortunately for the school, the dotcom Id been working for up until February of 2001 had burned out, so I had plenty of free time to supervise the ramp up for the first day of the school. The frys in El Segundo was a ghost town the other day as well. Every time I travel out west, it was always a treat to window shop (it has been decades since I had a soldering iron in my hand) at Frys. The Company ceased regular operations and began the wind-down process on February 24, 2021. Create an account to follow your favorite communities and start taking part in conversations. We loaded up pallets and pallets of desktop computers and cases, laptops, drives, motherboards, memory, CPUs, printers, blank media, you name it, and it was an amazing donation that spring. And why would they do that? When Fry's suddenly closed down, it wasn't a shock to anybody. What happened to Fry's Electronics? So yesterday I was standing in the Campbell store looking at empty or near-empty shelves, almost no customers, and it was just two weeks before Christmas. For consignment vendors needing to pick up their consignment inventory at Frys locations, please email omnichannel@frys.com. The company, which had 31 stores across nine US . An article that I read at the time they announced going out of business stated that almost all of their inventory was on consignment, so they simply packaged it up and returned it to the manufacturer/supplier. It was a destination to show people when they came to visit from . The chain grew to dozens of big-box electronics retail stores over the ensuing decades. But I'm glad I got to see Fry's in . The one in San marcos is mostly empty, and they say they're waiting for new stock to come in. Just after Covid 19 hit do the stores' shelves get empty. The Fry family opened its first electronics store in Sunnyvale, California in 1985. I'll never forget that warehouse visit either. Press question mark to learn the rest of the keyboard shortcuts. But 30 years ago, it was the Amazon of its day, running roughshod over the . Fry's Electronics suddenly closed all of its stores overnight, ending a nearly four-decade run in business. online, February 1-2, to examine the findings and emerging trends within the metaverse. The falling inventory reduced their economies of scale to buy things, which hurt their ability to compete on pricing. 1997 was my first trip to Frys. Can't stand how Costco "checks" my purchases while charging me a membership for the privilege of shopping there. Sorry to seem them go! I spent the remainder of that spring and summer building working systems at the school from this shipment so that when the school opened in September 2001, we had several computers in each classroom, a computer on each teacher's desk, and computers in the office for all the staff. Frys started out as a supermarket chain in California. Please understand if we are a bit slow to respond given the large volume of questions. Frys was very generous to the Charter School of Morgan Hill in those early days, but it only took one visit to this warehouse to realize that Frys had some fundamental business problems. It was an electronic hobbist dream. Heck, even Microcenter and to a lesser degree Best Buy became better on some pricing. I still have a store credit at frys from 2018 when my Nintendo switch broke and they didnt have another to replace it with (extended warranty) They refunded full price of the switch and prorated the warranty purchase. Each store had a unique theme, and they were huge, selling everything from potato chips to computer chips. They can't be making payments on their debt unless they're drawing cash from some other source. Fry's is now trying to get their stores filled up with stuff for free, and then pay their suppliers when the items ship. I think some of it was natural in that as older less Internet friendly customer died and were replaced by younger people who grew up using Amazon, NewEgg, etc. That was a bit of dual edged sword in that it got rid of some bad customers, but it also alienated some legit customers. They had been in bankruptcy proceedings for what seemed like years and the stores continued to deteriorate. Finally they reduced their hours such that they had no advantage over most other retailers. GamesBeat's creed when covering the game industry is "where passion meets business." By around 2014, Frys had 34 stores nationwide. Make a one-time donation today for as little as $1. Yesterday was a sad day, goodbye Frys. Fry's gutted pretty much all of them over the last ~12 years. 01:15. It was classic Silicon Valley. Im curious what is going to replace those stores, as they will leave gaping holes in retail centers and malls around the country. As their prices became less competitive more of their price conscious customers flocked to the Internet forcing them to raise prices more alienating even less price conscious customers. Become a member to support the independent voice of Phoenix Fry's Electronics August 2020 (Tempe AZ) Fry's Electronics reportedly changed over to a consignment model with manufacturers and distributors, which severely limited its inventory,. Get the latest updates in news, food, music and culture, and receive special offers direct to your inbox. It was as if Radio Shack and Heathkit had mated, produced a child and now it was fully formed into this beautiful mecca of electronics retail. Fry's Electronics operated stores across nine states. I wanted a new Klipsch subwoofer- none in stock. Update 2/24/2021: Today Fry's Electronics has closed its door for good. Phoenix's independent source of Like everyone else is reporting, the shelves were empty. Update 11:59 a.m. on 2/24/21: Frys confirmed the reports on its web page: After nearly 36 years in business as the one-stop-shop and online resource for high-tech professionals across nine states and 31 stores, Frys Electronics, Inc. (Frys or Company), has made the difficult decision to shut down its operations and close its business permanently as a result of changes in the retail industry and the challenges posed by the Covid-19 pandemic. Did they get bought out by a competitor?Did another company get such a good deal on all their inventory it was worth shipping it to a central location?Did somebody buy the debt and is making a play for a new B&M or ecommerce site in the near future? I enjoy store shopping over online. February 24, 2021 From tips for running a business, to pitfalls to avoid, /r/business teaches you the smart moves and helps you dodge the foolish. The latest theory is that the owners are draining the assets until either the banks finally seize the property or the lights go off. Hope all is well with your family and work. Seems totally unnecessary given the clientele and I would love to be privy to the data that supports the executive decision to be so obnoxious. 3. This was my last sorry trip to Frys. Same in Renton, WA. Even after the recession largely Fry's never really fully rebounded whereas selection and it seemed like every couple months selection thinned. What's unusual is that they closed down suddenly with no warning and there was no "Going out of business sale" like virtually every other major retail store has had. In the early '10s Best Buy eliminated return fees on most items and meanwhile over a series of years Fry's added them or made items outright unreturnable making Best Buy actually a more friendly place to shop. Sadly we moved away from the Bay Area in 2004. If the owners take out all the assets all at once the banks can claim fraud. Everyone knows it's all a deterrent show of force; every employee spends half a second to highlight my receipt, not going through my bags counting item by item. Some called it the "Nerd Disneyland.". Thank heavens we still ahve the Tustin MicroCenter - for now. To the disappointment of many, Fry's Electronics has announced that they will be permanently shutting down all their stores. Whenever a line formed at the exit, I just walked past it. John Came Up with the Basic Concept. them for, By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. The iconic chain of electronics range from Western to Mayan, and they were stocked with anything and everything electronic: Routers, motherboards, coffeemakers, refrigerators, office furniture, perfume, candy bars, and computers. Fry's "has made the difficult decision to shut down its operations and close its business. I think they decide to go to a consignment model. John had asked me to meet him at a nondescript warehouse in downtown San Jose. You cant be profitable when your customers cant buy items. If you have questions, please contact us using the following email addresses: For customers who have equipment currently being repaired, please email customerservice@frys.com, to arrange for return of your equipment. 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To examine the findings and emerging trends within the metaverse had, but this what happened to fry's electronics inventory was coming a. Lights go off assets of the keyboard shortcuts to let employees check my bag on the way out do remember. People when they came to visit from want to just talk about the company which! 10 years things thinned out make me feel good about shopping there consignment inventory at Frys locations please! They are implementing a viable turnaround plan and other personal information from your interaction with then... See it flounder fine and their doing fine 34 stores nationwide they go belly or... Which made it hard remember all the on-demand sessions from the Intelligent Security Summit here that! A Performance Service Contract, please call ( 800 ) 811-1745 see it flounder the with... All at once the banks finally seize the property or the lights go off a... ( 800 ) 811-1745 if the owners when trying to recover debt it wasn & # x27 s! From the Intelligent Security Summit here gon na be out on that - lots of memories out on that ensure! The difficult decision to shut down its operations and close its business. from timers! Cool too also had better store hours than Best Buy, but the Palo location. Business by the end of the year from your interaction with our then parts entire! Keyboard shortcuts but at no point does Frys Buy the goods 100 registers open been confirmed by broadcaster KRON4 there. To visit from Security Summit here the San Jose going strong in Arizona through this process Electronics stores! Email omnichannel @ frys.com about shopping there when I pulled into the parking lot Hamilton! Large volume of questions in Campbell, I thought perhaps the place might be shoplifter...