I was only a couple hours into work today when I received a text claiming that Best Buy had been shut down in my city. After hearing the news I quickly searched the local news sites only to find articles about other locations being closed through the country. Given that there were two locations within a reasonable distance I decided to call them both to which I was forwarded to the local Future Shops (consumer electronic stores also owned by Best Buy Canada) – clearly the rumours were true.

As the day went on details emerged that Best Buy Canada had closed up shop at several locations, giving no notice to employees or customers. The company simply papered up store windows and posted security outside the doors. Security guards were supplied with pamphlets to hand customers. While American readers may not find this surprising, it is a little more shocking for Canadians as the Best Buy name has only been making an appearance for just over a decade. In 2001 the Best Buy corporation acquired the Canadian grown ‘Future Shop’ chain, which shared a similar model. Furthermore, several of the locations which closed today have only been open for a relatively short period.

The company has called the closings part of a “transformational strategy” and claims they’ll be continuing forward with the Future Shop name using Small-Concept web stores and more Best Buy Mobile locations

Best Buy has blamed the closures on an increase in tough competition from online retailers. Although the future of the Best Buy is uncertain, there’s one thing that is definite – a lot of employees are without jobs today.