Surely also you noticed that all Future Shop stores was closed across Canada in the spring. How many of them were there? More than 130 locations! Especially for employees it was a great shock when half of the Future Shop stores announced that it closed almost by the day.
What is the reason of closing these stores?
Best Buy, the parent company of Future Shop, after the purchase of Future Shop stores in 2001 started to open their own stores under its own name in Canada. But in the spring of 2015 it looked like there were too many of these stores. So Best Buy decided to close the half of the Future Shop stores and the other half to transform into conventional Best Buy stores.
This radical step, unfortunately, deprived 500 employees of their jobs. The immediate closing of stores was very shocking for them. Some of them unfortunately learned it only when they wanted to go to work in the morning, like every day - but they couldn't go there because they suddenly hadn't a job. The sad interesting thing is the fact that some employees were told that if they are interested in working in Best Buy stores that arise from the original Future Shop stores, they will again have to go through the selection procedure.
Currently, there are 65 re-branded Future Shop stores operating under the Best Buy in Canada. Future Shop stores had worked from 1982 to 28 March 2015. In November 2001, Future Shop was acquired by Best Buy for $ 580 million. The main motto of the company was "Exciting Stuff".