Future Shop Permanently Closes

Future Shop - Niagara Falls - smaller

CBJ – The retail sector took another major hit on Saturday when employees and customers of Future Shop were met with signs on the front doors indicating the electronics brand stores had been permanently closed nationwide.  About 500 full-time and 1,000 part-time jobs were lost.

Best Buy Canada, the parent company of Future Shop, announced it was consolidating its Future Shop and Best Buy stores under the Best Buy brand.  A total of 66 stores were immediately closed down. The other 65 are temporarily shut down and will be converted into Best Buy locations. Some former Future Shop employees were told that in order to work at the re-opened Best Buy outlets, they would have to reapply.

Customer gift cards and warranties from Future Shop will be honoured by Best Buy. Future Shop returns and exchanges can also be done at Best Buy.

Two years ago, Best Buy spoke of how it had to adapt to a “changing retail landscape” where online stores were winning a much greater share of the electronics market as it closed eight Future Shop and seven Best Buy big box stores across the country.

@CanBizJournal

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