Future Shop - Closed Accoss Canada

[Nomerr]

All stores closed effective immediately....What is going on in the Retail Market?!?!
All Future Shop stores in Canada have closed, effective immediately.
The news was delivered simultaneously to employees across the country early Saturday morning as they were showing up for their shifts.


http://www.am980.ca/2015/03/28/futur...across-canada/

[tjthemanto]

http://www.cbc.ca/news/business/futu...-buy-1.3013534

[tjthemanto]

Future Shop stores closed across Canada, some to become Best Buy

About 500 full-time and 1,000 part-time jobs will be eliminated

CBC News Posted: Mar 28, 2015 10:17 AM ET Last Updated: Mar 28, 2015 10:40 AM ET


Dozens of Future Shop stores have been closed across Canada, its parent company Best Buy Canada Ltd. announced Saturday.
The company said it was shutting down 66 Future Shop stores effective immediately. Meanwhile, another 65 stores will be closed for a week while they're converted to Best Buy stores.


"Due to the consolidation, approximately 500 full-time and 1,000 part-time positions will be eliminated," Best Buy said.
Future Shop was purchased by Best Buy in 2001 for $580 million.


In a statement announcing the latest move, the Burnaby, B.C.-based retailer said it reviewed all locations for both retailers and found some were so close in proximity they shared the same parking lot.


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

[dededi]

That is so unbelievable. I wonder what will happen to the employees and people with warranties.

[carma_bee]

So sudden! Wow.

Hopefully the Futureshop here (North Bay) will just turn into a Best Buy because we don't already have a Best Buy here.

[KathyN]

so sudden!

[tjthemanto]

Might have some clerance deals over there..if its too hard & expensive for them to move stock to corresponding Best Buy stores.

Especially good deals to be had on Open box items & Floor Demo models .

[tjthemanto]

Very soon this will be just a land of Wal Mart

Another Canadian company bites dust , although it wasn't really Canadian after Best Buy bought them out in 2001.

[tjthemanto]

Black Berry is probably the next to go..its on its last legs too.

Someone will take them out not for their hardware , but for their Patents & Intellectual property

[cabmonk]

While it's not good news oveall, not all stores are closing. 66 are closing and 65 converted to best buy stores. All warranties will be honoured by best buy stores and all future shop gift cards will be accepted at best buy and best buy.ca. Our future shop here in Timmins is closed until april 4th to be converted to a best buy or so they say, we will see. Best buy is the parent company of future shop and I kinda thought they would have made them all best buy stores a lot sooner then they did.

[tjthemanto]

Not sure if they will keep their online Shoping @ www.futureshop.ca anymore either , that's probably going to be gone too .

So just BB stores & www.bestbuy.ca ( online shopping ) from here on I guess .

[cabmonk]

I think they had way too many stores anyway with having some best buy and future shop so close to each other. Areas that had a future shop close to a best buy the future shop is closing. Most places that don't have a best buy near by will be converted to best buy. After converting the 65 stores to best buy they will still have close to 200 stores across canada.

[Decaf]

Oh man, more job loss.

[amira84]

That's very sad! It looks like it's not a good year for retailers.

[tjthemanto]

Leons bought The Brick a few yrs back ..I think 2012 . I wouldn't be surprised if they close one store ( probably The Brick ) ..and combine them under the Leons banner in the coming few years.

Wouldn't be surprised if RONA gets taken out by LOWES , to compete with HOMEDEPOT . Lowes has already made one attempt at Rona, they will probably try again.