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What HappenendTo Frys?


JDMeister
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The store We Loved To Hate.

 

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Incredible universe was ok when they moved into SD, but quickly went down hill.  Frys put some money into it and then it went to a complete sheet show.  Shelves empty, shelves full of cheep ass sheet, and NO ONE to ever be found and if you waited to talk to a person they were not at all helpful...

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Completely agree was the cool place to shop for my computer stuff 15 years ago but lost my business when the shelves emptied and I could get my stuff eayser online

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More insite.  "I worked in management at Fry's for about six years. I helped open five of their locations. One of the big issues not brought up in the video was Omar Siddiqui. Omar was John Fry's roommate in college and probably one of the real reasons Fry's expanded as large as it did. However, it was also Omar that had a gambling problem. To feed that problem, he borrowed tens of millions of dollars in personal loans from the Fry's, set up a complicated kick back system with the vendors in exchange for the company selling their product, a series of house brand products that he controlled and skimmed millions off the top, and outright embezzlement from the company for decades. Records show that he gambled over $162 MILLION dollars in Las Vegas MGM Grand in about a 3 year period and another $65 million at the Venetian. This made him the largest recorded gambling loser in Las Vegas history and that title he still holds today. I remember hearing rumors from other management about him bragging about driving his Lamborghini into the MGM and having a private entrance into the parking structure with an elevator to the penthouse. I met him several times and I don't think I have ever met a bigger ass in all of my life. He was beyond rude to anyone he came into contact with. Fry's seemed to be doing ok when other companies, like CompUSA, were falling because of the internet sales. Once the Fry's headquarters was raided by the IRS (yes, they came busting in with their yellow jackets and guns) Fry's never seemed to recover. Omar had destroyed relationships and credit with the vendors, all of the competitively price house brands owned by Omar now were closed, and the internet sales side of Fry's that was owned outside of the company and heavily manipulated by Omar, fell apart. The company was tens of millions at loss, and now with the arrest of Omar and people not knowing what was going on, they demanded cash up front for any new product and wanted to be paid for all outstanding debt immediately before sending out any new product. A company that large cannot do that. This was about time that I jumped ship....around 2009. They never recovered and slowly fell apart with no new product being allocated to the stores. Add into the mix, movies, music and games now are streamed rather than purchased in store, with that expanding internet market and things didn't go so well for them. It really was an exciting place to work, at times....university marching bands going through the stores, pro cheerleaders and athletes, the creators of some of the biggest video games showing up for lectures and autographs (Blizzard, Naughty Dog, etc). However, they did have a dark side too, like a lot of corporations, like not treating their employees very well, not paying them very well, not treating their customers the best (especially returns) but this seems to be true of most retail work. Don't feel too bad for the owners, however, they flat out owned most of the large real estate plots their stores were located at. They will be just fine."

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Yes, I had heard of the gambling issue.. ^^

Owning the land is good, but who will buy during this down turn?

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On 6/19/2021 at 9:16 AM, Bobalos said:

What downturn??  Biden said everything is fine. 

I'm with Biden on this one! Peace

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Thats just great....They will build a huge low rent apartment complex on that property to house all the illegals immigrants...Just like what they are doing to La Mesa.. San Diego is becoming the next LA..

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Hell it’s happening in every broader state. Open apartments paid by local government to house people who have chosen to not have any higher goals in life than not to have responsibilities. 

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