The US-based company registered two years of disappointing performance and has now issued an official end-date to its trading in the United Kingdom. Best Buy UK released an open letter on its website, saying: ‘We intend to cease retail trading at our Best Buy UK branded stores & website by the 15th January 2012.’' '‘We've loved bringing our passion for the latest and greatest technology to Britain over the past 2 years, and have always had the utmost appreciation, respect, and commitment to the entire UK marketplace, our customers and stakeholders.'’ ''We are still committed to making sure your needs are well served up until our closing and beyond."
Best Buy UK set up 11 superstores in cooperation with Carphone Warehouse and if only the venture had been a success, hundreds of new stores were set to follow, as well as an aggressive expansion into Europe. Obviously, the closure will affect all the stores as well as their future plans.
It's sad to see such a well known technology retailer close its shops and move back home, but there is an upside of this story - Best Buy decided to launch a closing down sale in order to clear its stock, which means that you have until January 15 to pick up the latest tech at a reduced price. As the weeks roll on, the prices become more and more attractive, so you should keep an eye on their website.