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Future Shop closes all Canadian stores

The Truth

TRIBE Member
London, Ontario, Canada / (CFPL AM) AM 980
March 28, 2015 09:20 am

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.

In a news release issued Saturday, company officials confirm 66 Future Shop stores — including both in London — would be closed permanently. Another 65 stores will be closed temporarily and converted into Best Buy locations.

As a result of this consolidation, approximately 500 full-time and 1,000 part-time positions will be eliminated. The affected employees will receive severance, employee assistance and outplacement support, according to a statement.

“Any decisions that impact our people are never taken lightly; our first priority is to support them through this change,” said Ron Wilson, President and COO of Best Buy Canada.

“I want to express my appreciation to the employees who are leaving, for their contributions to Best Buy Canada.”

Future Shop was founded in 1982, and was purchased by Best Buy in 2001 for $580-million.

Until now, Best Buy continued to operate Future Shop as a separate division. Best Buy will now have a total of 192 locations across Canada, including 136 large-format stores and 56 Best Buy Mobile stores.

Future Shop Stores Close Across Canada | (CFPL AM) AM 980
 
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Surprised by the suddenness of the shutdown, but they've been co-existing for way, way too long, trying to create some kind of screwed up illusion of competition w/ Best Buy.

Feel bad for the employees that came in to work this morning and got the news when they started.
 

alexd

Administrator
Staff member
Thank fuck I never bought one of their extended 3 year warranties for anything!
 
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I think Best Buy will likely honor the warranty, but, really, no one should be getting those extended warranties in the first place.

They make you jump through a ridiculous amount of hoops in order to get the service (like sending you back to the original store that you got if from, good luck if you moved since buying your product), and I can't remember what they do as far as actual warranty service goes - but it was something that convinced me you should always go with the extended manufacturer's warranty instead of FS's own in house warranty - and this just reinforces that belief.
 

Karim

TRIBE Member
They couldn't get away with selling $50 HDMI and $30 USB cables anymore to pad their margins.

Best Buy is next unless they rethink the way they do retail.
 

acheron

TRIBE Member
Best Buy IS Futureshop, remember. I have long wondered why BB kept FS for so long after the acquisition years ago. There are places where both stores occupy the same parking lot mall.
 

Karim

TRIBE Member
Best Buy IS Futureshop, remember. I have long wondered why BB kept FS for so long after the acquisition years ago. There are places where both stores occupy the same parking lot mall.

Yeah, I know they're the same. I was working at Future Shop back in the day when BB acquired the company. But the Best Buy locations themselves will probably be shut down in the next 5-10 years if they don't rethink the way the do retail.
 
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