The Best Buy in South Surrey is one of 15 stores being shut down by Best Buy Canada Ltd.
Today (January 31), the Burnaby-based subsidiary of U.S.-based Best Buy Co. Inc. announced it is permanently closing eight Future Shop and seven Best Buy big box stores across Canada. An estimated 900 people will reportedly lose their jobs.
A news release from the company called the move the "first phase of a long-term transformational strategy to optimize the company’s retail footprint across the country".
In B.C., Best Buy stores in Queensborough, Nanaimo, Victoria, and Langford (Westshore Town Centre) are also closing "immediately". The Future Shop store in West Kelowna is going out of business.
Best Buy Canada says it plans to open new Future Shop small-concept "web stores" and Best Buy Mobile locations over the next three years. The company notes it still has over 120 Best Buy and Best Buy Mobile stores and over 140 Future Shop locations in Canada.
"Employees affected by the Best Buy and Future Shop store closures will receive severance support as well as access to employee assistance programs and career transition support. Hiring priority will also be offered to previous employees across the country affected by today’s announcement," the release states.