AfterDawn: News

All Best Buy UK superstores to be shut down

Carphone Warehouse will close all of Best Buy UK superstores, citing very disappointing financial performance.

Each of the 11 stores opened at some point in 2010, after being delayed for opens in 2009.



Best Buy and Carphone teamed up to bring the popular American retailer to Europe, but competition and a Europe on the brink of recession has killed the venture.

Performance was so bad that Carphone's plans to launch 200 stores in the EU by 2013 was scrapped after the first 11 were built.

When asked for comment, Carphone only had this to say (via Lint):

We always said we would open 11 stores and then conduct a strategy review. We are now conducting our evaluation with our partners and will provide an update in due course.

To date, the stores have accumulated 115 million pounds in losses.

Written by: Andre Yoskowitz @ 6 Nov 2011 19:42

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• LordRuss

  Some of them need to close here in the US too. Overpriced retail BS is what they are. I get the instant gratification idea of sales, but lord the mighty damned! Talk about fleecing! And their rewards, bonus, BS whatever you want to call it is a waste of time taking it out of my pocket. I have never saved a dime. Why on earth would I want to take the percentage earned in savings & put it towards saving money on a bluray movie that I could have bought for the right price at Walmart to begin with? It's a business model that never worked since the invention of online shopping & baseline common sense.
  
  And the rant goes on... You folks know how to fill in this kind of thing...
  

  http://onlyinrussellsworld.blogspot.com

  7.11.2011 10:58 #1