Best Buy has confirmed that it will close its 11 stores in the U.K. before the end of the year. The move comes as the company confirms its plans to buy out Carphone Warehouse in its joint U.S. mobile phone venture.
Best Buy confirms its consultation with its employees on the closure of the stores in the days ahead. Best Buy apparently is confident that it can redeploy a good number of the employees into jobs in other areas of business.
Best Buy intends to have all 11 U.K. stores closed before the end of this calendar year to stop the bleeding. While the stores initially opened with a bang, the company has not been able to sustain the sales levels to make the stores profitable.