Best Buy UK begins closing down sale
Electronics retailer Best Buy UK has announced the start of its closing down sale as it prepares to leave the UK in January.
Earlier this month Carphone Warehouse said it would be closing the chain of 11 Best Buy stores across the UK following its decision to focus its growth strategy around selling more electronics through the Carphone Warehouse stores.
A letter on the Best Buy UK website, signed by managing director Steve Jensen, says: “We've loved bringing our passion for the latest and greatest technology to Britain over the past [two] years, and have always had the utmost appreciation, respect, and commitment to the entire UK marketplace, our customers and stakeholders.
"However, as you may know, based upon the outcome of our employee consultation, we intend to cease retail trading at our Best Buy UK branded stores & website by the 15 January 2012. We are sincerely sorry for any inconvenience that this may cause you."
The company said it will continue to offer its customers some support after 15 January. However, anyone with store credit is being advised to spend it as soon as possible.
The Best Buy UK stores are a joint venture between CPW and Best Buy Co Inc in the US. The joint venture has not been profitable as the UK stores have been hit by weak consumer spending and competition from established electrical retailers such as Dixons.
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