Their first store opened just last year in 2010, but already Best Buy (partly-owned by Carphone Warehouse) is choking. A lofty ambition of opening 200 European stores by 2013 was already put on hold this June after 11 stores opened (and created losses of £83 million). Updated.
The large-scale electronics stores opened in a particularly tricky financial period, and on a landscape that online shopping had already seized. Still, the group gave it their best shot, but plans to open another 179 across Europe is definitely not looking likely, with Carphone Warehouse and Best Buy expected to announce the closure of the 11 stores this week, alongside their latest financial report spelling out even more losses.
It's hardly surprising news, as it was always going to be an ambitious effort in this country, but does make me sad that many jobs will be lost, and less choice will be offered to people wanting the walk-in experience. Has anyone ever shopped in one of the 11 UK branches, or will miss the mega-super-sized stores? Gizzus your best obituary in the comments below. [The Telegraph]
Image Credit: Shopping Blog
Updated: Best Buy UK has confirmed the closure of the 11 stores, with 1,100 jobs potentially being lost. Its Facebook page, while still labelling the company as "considering whether to continue operating Best Buy's stores and website," has a handy customer FAQ in case you happen to have any gift cards or refunds on hand.