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>Do they own the real estate they're sitting on or something? A quick search gives some mixed results. They own their San Jose property¹ through an affiliate c
by Talanes 7y ago
>Do they own the real estate they're sitting on or something?
A quick search gives some mixed results. They own their San Jose property¹ through an affiliate company. This affiliate doesn't appear to own any other Fry's property though². Conversely, the Palo Alto location was closed when the lease ran out³.
¹https://www.mercurynews.com/2020/01/10/industrial-mega-developer-eyes-frys-north-san-jose-site/ https://www.mercurynews.com/2020/01/10/industrial-mega-devel...
²https://www.corporationwiki.com/California/Menlo-Park/caracol-ltd-lp/45846374.aspx https://www.corporationwiki.com/California/Menlo-Park/caraco...
³https://www.mercurynews.com/2019/08/29/frys-to-close-its-palo-alto-doors-for-good-in-january/ https://www.mercurynews.com/2019/08/29/frys-to-close-its-pal...
- bsder 7y ago> They own their San Jose property¹ through an affiliate company. Ah! That probably explains it. Any residual money can be drained into the affiliate companies before filing bankruptcy so that there is nothing left in "Fry's".