Menlo Park, CA—Remember when software marketer Egghead.com (nee Egghead) was a cataloger/retailer with a nationwide chain of stores? Then in the late 1990s it closed its stores, folded its print book (except for sales mailings that functioned as online-traffic drivers), and repositioned itself as an Internet pure-play. Now, in the latest, and perhaps last, leg of the company’s journey, Egghead.com has agreed to sell its assets to San Jose, CA-based electronics retailer Fry’s Electronics, pending approval of a Chapter 11 bankruptcy proceeding.
Per the agreement, Egghead.com will continue to operate its business under bankruptcy court supervision until the sale closes, after which Fry is expected to operate the Egghead.com Website. Approximately two-thirds of Egghead.com’s employees have been laid off. Assets of Egghead.com not acquired by Fry’s will likely be sold under court supervision. The transaction is expected to close by then end of September.