Joint venture to exit the UK market in the middle of the month, just under two years after its first “big box” store opened
Best Buy’s 11 UK “big box” stores will cease trading on January 15, just under two years after the first outlet opened in West Thurrock, Essex.
The Carphone Warehouse announced on November 7 that the Best Buy Europe joint venture, set up with US electronics retailer Best Buy in 2008, would now focus on deploying its connectivity strategy through Carphone’s retail stores.
Best Buy Europe CEO Andrew Harrison said at the time that the firm was confident it would best serve its customers by investing in a single brand and format rather than two.
Carphone had added it believed it would be able to deploy the majority of more than 1,000 staff employed in the operation elsewhere.
A closing down sale is ongoing at the retailer, with 25-50 per cent discounts on electrical goods.
In addition to West Thurrock, the Best Buy “big box” stores are located in Hayes, Enfield and Croydon in London, Liverpool, Derby, Bristol, Nottingham, Rotherham, Dudley and Southampton.