It’s been a tough few years for Best Buy. The big-box retailer has been struggling to keep up with online retailers like Amazon, and has been forced to close dozens of stores in the US. Now, it looks like Best Buy’s Canadian operations could be in trouble, too.
Best Buy Canada is a subsidiary of Best Buy Co., Inc., which is based in Richfield, Minnesota. The company has been operating in Canada since 2001, when it acquired the Future Shop chain of electronics stores. Best Buy Canada has more than 190 stores across the country, employing more than 10,000 people.
In the past year or so, Best Buy Canada has been quietly closing stores. In November 2017, the company announced that it was closing 15 “underperforming” stores across Canada. At the time, Best Buy said that the closures were part of its “ongoing transformation” and that it was “investing in other growth initiatives.”
Since then, more closures have been announced. In March 2018, Best Buy announced that it was closing its store in Orillia, Ontario. And in May 2018, the company announced that it was closing two more stores, in Hamilton and Kitchener, Ontario.
So far, Best Buy has not given any indication that it plans to close all of its stores in Canada. However, with the company’s struggling US operations and its ongoing transformation, it’s not out of the question that Best Buy Canada could be next on the chopping block.
Is Best Buy Closing In Canada?
It’s difficult to say for sure. Best Buy has been quietly closing stores in Canada over the past year or so, but it hasn’t given any indication that it plans to close all of its stores here.
