# Futureshop closes Canadian stores



## fury165 (Aug 21, 2010)

> . All Future Shop stores in Canada have closed, effective immediately, according to reports.
> 
> London, Ont.-based radio station AM980 is reporting that the news was delivered to employees across the country early Saturday morning as they were showing up for their shifts.
> 
> Select outlets will be converted into Best Buy stores, but the rest will remain closed for good.


http://www.theglobeandmail.com/repo...-shop-closes-canadian-stores/article23677084/


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## Greg_o (Mar 4, 2010)

Bad news for the employees and a not too subtle hint at where the economy's headed.


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## flagtail (Jun 2, 2011)

no surprise there!

Future shop/best buy been doing the spiral downward spin for way too long.....
They are overdue for a tightening of the belt and get lean....


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## arapaimag (Dec 6, 2007)

Sound familiar?

American company (Best Buy) buys Canadian company (Future Shop) Then a few years later closes the Canadian one.


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## amps (Feb 24, 2015)

To be fair, it was 14 years after the purchase which a nice run. 

Having said that, I worked for Best Buy for 7 years (ending in 2011) and I am in no way surprised. Their concept in keeping both stores open and seperate was that it allowed them to increase competition while still collecting all the money at the top. But to do that, they needed to have to sets of regional management, two marketing departments and two sets of upper level management. Combine that with a weakening Canadian economy and now a weakening Canadian dollar and it's no frickin surprise that the fish are starting to turn belly up.

Best Buy in the meantime has been trying to refocus and rebrand into online sales and upper tier houseware sales. In the first they're massively outwieghed by about every other online retailer and in the second they can't make a penny since no one is buying $250 toasters (except for my stupid friend Paul...).

Sucks for the employees I have to say and really sucks to be a shareholder right now.


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## fury165 (Aug 21, 2010)

amps said:


> To be fair, it was 14 years after the purchase which a nice run.
> 
> Having said that, I worked for Best Buy for 7 years (ending in 2011) and I am in no way surprised. Their concept in keeping both stores open and seperate was that it allowed them to increase competition while still collecting all the money at the top. But to do that, they needed to have to sets of regional management, two marketing departments and two sets of upper level management. Combine that with a weakening Canadian economy and now a weakening Canadian dollar and it's no frickin surprise that the fish are starting to turn belly up.
> 
> ...


Well put, I had expected this years ago. Sad for employees though with such an abrupt shutdown.


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## Y2KGT (Jul 20, 2009)

It does suck for the employees. I heard on the news this morning the employees that lost their jobs can apply for the job postings at Best Buy but doesn't that mean they have to start at the bottom again seniority wise?

I'd rather shop at a Canadian owned company like The Source anyway. They're in every mall and what they don't carry in store I can order online and get it shipped to my closest store for free or if its over $25 before taxes free to my home or office.
--
Paul


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