FUTURE SHOP CLOSING ITS DOORS

Mar 28, 2015

By Kim O'Hare

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Online shopping continues to cause problems for brick and mortar retail outlets. American based electronics retail giant Best Buy Co. is closing its 131 Future Shop stores in Canada and will re-open 65 of them under the Best Buy banner in a bid to improve business.

Retail analysts say the shift to cyber buying is particularly acute in the electronics and computer field.

The Future Shop closing comes on the heels of the announcement earlier this year that Target is closing its 133 stores in Canada.

After the Future Shop closures, Best Buy will have a total of 192 stores across Canada consisting of 136 large outlets and 56 smaller Best Buy Mobile stores.

About 500 full-time and 1,000 part-time jobs will be lost as the result of the decision.

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