https://www.paloaltoonline.com/news/2019/08/28/frys-electronics-to-shutter-palo-alto-store-in-january
More to come.
7 replies (most recent on top)
Target thinks it may be profitable to move in former Fry's building.
As Target eyes former Fry's building, Palo Alto rethinks its housing plan.
Owner of Portage Avenue property requests zone change to accommodate large retailer, other commercial uses.
https://www.paloaltoonline.com/news/2020/08/12/as-target-eyes-former-frys-building-palo-alto-rethinks-its-housing-plan
One of the sales associates at Fry's Palo Alto said that they are closing in January 2020, but that the other stores would remain open. Apparently there is also a "reorganization" that will happen, so the other stores may not be open for much longer than the Palo Alto store. Not that it really matters anymore. If all the stores are ghost towns, that means very few of us are going there any more.
None of this matters. 2020? None of the stores will make it past Black Friday with no incoming product.
If they still kept them open, the greeting would be, “Welcome to Frys, theres stacks of water, perfume, and backpacks on ailse 1. If you need anything else try Amazon.”
The city of Palo Alto rezoned the area, they were given a wavier and that's expiring in January leaving Fry's and the land owners no choice.
I can't imagine that the owner of the land isn't on board with the plans though, as it's sure to cause the value of the land to skyrocket.
I realized that the lease is up, but if the store was profitable, they still would have made a deal to extend the lease, like they did 10 years ago when it expired last time.
Palo Alto wants housing in that spot, but the property owner does not appear to be interested in that.
The plan has been in process for the last two years since the city needed the land for their development land. You can find articles dated back at least two years ago: https://www.mercurynews.com/2017/11/09/city-gets-grant-to-pay-for-frys-area-redevelopment-plan/
In other words, this closing is not related to the company shutting its whole operation down. But it does look like they will soon though.
The Palo Alto store is closing because the lease is expiring and they plan on completely redeveloping the site, this is independant of any other developments with the company.