MCV is reporting (via The Sunday Times) that Best Buy UK is to close its eleven stores. Parent company ‘Carphone Warehouse’ may make the announcement as soon as Tuesday, although the Best Buy name might live on with some Carphone Warehouse stores turning into ‘mini’ Best Buys.
According to Pocket Lint, Best Buy UK has generated losses of £83 million, with a further half-year loss of £35 million expected to be announced this week.
Source: MCV / Pocket Lint
teflon
Big shame. They didn’t have enough stores yet to really get the presence and awareness going on, which you need when you’re bringing a brand over from the US.
To expect an instant hit, and not be able to accept that they need more than 10 stores to get that just shows either mismanagement, or successive top brass seeing what the previous guys have done and just chucking it out the window.
Reminds me of HP.
TheDeathAvenger
Not been in a Best Buy store (as they’re all down south). Was hoping for a Best Buy to open somewhere in Edinburgh.
Surely big loses are to be expected until you can garner enough public interest. I doubt most people would have any idea what Best Buy are. Having stores nationwide is surely a big part of their brand recognition.
cam the man
Although I’ve never been in a Best Buy store, as the nearest is Liverpool nearly 110 miles away, it’s not nice to hear of people losing there jobs, especially in the gaming industry.
srr1
This is sad news if true, I really want Best Buy to take off in the country!
Actually any type of American stores I’m cool with. Walmart, Arby’s etc
Sympozium
Put it in the city/town centre, its worked for Gamestop in NI.