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Carphone Warehouse to close all 11 Best Buy shops
The UK joint venture has failed to make a profit
Carphone Warehouse is to close all of its 11 Best Buy stores across the UK, the company has announced.
The move puts 1,100 jobs at risk at the outlets, which sell electronic goods, but the firm said it hoped to find the "large majority" alternative work.
The 11 Best Buy stores are part of Best Buy Europe, a joint venture between US group Best Buy and Carphone Warehouse.
The first Best Buy store in the UK only opened in April of last year. The outlets have failed to make a profit.
'Economic times'Best Buy's 11 UK outlets are in Liverpool, Derby, Bristol, Nottingham, Rotherham, Dudley, Thurrock, Southampton, and three places in London - Croydon, Hayes and Enfield.
Carphone Warehouse and Best Buy initially planned to open 200 Best Buy stores across the UK and continental Europe.
Best Buy Europe was formed in 2008 when Best Buy paid £1.1bn to buy a 50% stake in Carphone Warehouse's retail division.
Carphone Warehouse said the focus would now be on selling more electronics goods from Best Buy Europe's 805 Carphone Warehouse stores in the UK, and 1,648 Phone House shops in continental Europe.
Best Buy Europe said in a statement: "Since 2008, the consumer electronics marketplace has changed substantially as a result of the economic times, the progress of online retailing and the growth of new products such as smartphones, tablets and apps."
It comes as Best Buy plans to buy its British partner out of a separate and fast-growing US mobile phone joint venture for £865m.
The Best Buy Mobile venture has been benefiting from soaring demand for smartphones, such as Apple's iPhone.
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Comment number 101.
Jo7th November 2011 - 17:29
Best Buy consistently sold the latest video games at prices which even undercut internet providers. Not only that, but unlike many other high street retailers, they had them in stock. I always found their staff to be both knowledgeable and approachable; rarer than you'd think in this market. I for one will definitely miss them.
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Comment number 96.
fifi von strudel7th November 2011 - 16:28
Sad to hear. My problem with BB on the NA side of the Atlantic, is too much advertising! Everyweek another flyer promoting an endless array of gizmos you never knew you needed would appears in the mailbox, along with a one from Future Shop. A clone-competitor. It's Exhausting.
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Comment number 78.
bob7th November 2011 - 14:47
I have bought a canon s30x camera and a buffalo 1T hard drive
from Best Buy they staff where great
and They got me a price match and discount
on both products each time
I'm sorry but I can't knock them
sorry to see them go
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Comment number 76.
kevthebrit7th November 2011 - 14:47
I used to shop at Best Buy but they are just to expencive nowadays so Walmart is the place I shop now. I can see the nearest Best Buy from my kitchen window but it is still cheaper to drive to Walmart.
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Comment number 22.
SmilingBillyBones7th November 2011 - 12:18
Used Best Buy in the US, a well known store sells a wide range of electrical and elctronic kit at good prices. Didn't even know there was a UK version until I found one by accident earlier in the year. Apart from phones there was little choice of anything, all at the same sort of prices as high street retail stores. This was nothing like the US "Best Buy" - what did they expect?
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