Giant retail company, Fry’s Electronics, has taken the difficult decision to shut down all operations immediately.
Founded in 1985 by three brothers, the retail electronics brand is popular for its elaborate and themed stores. There are 31 of them across nine states. An example is its Phoenix, Arizona store, which has an ancient Aztec temple theme.
The decision to shut down permanently is the result of changes in consumer shopping habits as well as challenges generated by the COVID-19 pandemic. The establishment hopes its wind-down process will reduce costs, lessen the effect on partners, and eliminate potential liabilities, among others.
Unlike some of its rivals, such as Best Buy, Fry’s could not innovate its online operations fast enough. As a result, it cannot keep up with the change in consumer’s retail habits; hence, the closing down.