In 2019, rumors about the chain folding were rapidly spreading, mainly due to much of the shelves remaining empty for long periods of time and seeming to put more of an emphasis on makeup and fragrances than on electronics. Fry's Electronics responded by stating they were just switching to a consignment model, and not closing down entirely. From when Fry's put out this statement until early 2021, four additional stores closed (three of which were in California, and the one in Georgia), which further led much of the public to believe that Fry's Electronics would soon go out of business.