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Future Shop Closes 131 Stores; Some to Reopen as Best Buy

Image: Future Shop Closes 131 Stores; Some to Reopen as Best Buy
Future Shop, Richmond Hill, Ontario, Canada. (wikimedia/commons)

By    |   Monday, 30 Mar 2015 10:11 AM

Future Shop has closed 131 of its electronics outlets across Canada and will reopen 65 of them as Best Buy stores within a week.

U.S.-based Best Buy purchased Future Shop, headquartered in British Columbia, in 2001 and has operated both electronics outlets since then, reported the Globe and Mail. The company announced the brand consolidation on the Future Shop website over the weekend.

"Future Shop and Best Buy are consolidating under the Best Buy brand," said the announcement. "That means the products, services and features you have come to expect from FutureShop.ca can be found at BestBuy.ca."

A Best Buy statement said that about 500 full-time and 1,000 part-time positions will be eliminated with the consolidation and closings. Ron Wilson, president of Best Buy Canada, said customers still will able to receive service for their goods.

"Currently, 80 percent of our customers are within a 15-minute drive to a store and this won't change," said Wilson. "We will continue to have a strong store presence in all major markets in Canada."

Best Buy said employees losing their jobs would receive severance, employee assistance and outplacement support.

"Any decisions that impact our people are never taken lightly; our first priority is to support them through this change," said Wilson. "I want to express my appreciation to the employees who are leaving, for their contributions to Best Buy Canada."

According to the Calgary Herald, customers holding Future Shop gift cards will be able to redeem them at Best Buy Canada locations and online. Future Shop's product orders, service appointments and warranties would continue to be honored at Best Buy locations as well, along with returns and exchanges.

Best Buy Canada said it made the decision to close the stores after reviewing its "real estate footprint" in Canada and realizing many of its Future Shop and Best Buy stores were competing against each other, often in the same parking lot.


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Future Shop has closed 131 of its electronics stores across Canada and will reopen 65 of them as Best Buy stores within a week.
future, shop, closes, stores, best buy
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2015-11-30
Monday, 30 Mar 2015 10:11 AM
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