Best Buy’s 11 UK big-box stores and website will shut on January 15, marking the end of its attempt to transform the electricals market.
The closure comes a year and a half after the first of the British Best Buy stores, run in partnership with Carphone Warehouse, opened with the intention of taking on established groups such as Dixons, owner of Currys and PC World.
However the venture was undermined by punishing trading conditions, lack of scale and stiffer competition than expected following Dixons’ implementation of a renewal and transformation plan under boss John Browett.
The Best Buy stores are running closing down Sales at present. The retailer’s website is already completely sold out.
Many of the best buy staff are expected to be redeployed to other Carphone Warehouse operations.
Carphone is expected to focus in future on its ‘wireless world’ format, which carries a wider range of products than its traditional shops. Carphone aims to grab a similar share of the tablet computer market as it has in the mobiles category.