AUSTIN (Talk1370.com) -- After nearly four decades in business, including nearly 20 years with its North Austin store, Fry's Electronics has closed all of its remaining locations across the country, effective immediately.
No explanation was given for the sudden shutdown of the stores.
A statement on the company's website attributed the "difficult decision" a result of "changes in the retail industry and the challenges posed by the COVID-19 pandemic."
In its heyday, each store aimed to “provide a one-stop-shopping environment for the hi-tech professional." Many of its stores had themes, with the North Austin store paying tribute to the live music capital of the world.
In recent years, many users on social media noted that the company's cavernous stores were largely empty, with the company saying last year it was transitioning its stores to a consignment model.
The privately-held family company had a total of 31 stores across nine states, and was founded in 1985 in Sunnyvale, California.
"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," the company said on its site.