Best Buy's UK saga comes to a complete close-- Best Buy is pulling out of the UK after only 2 years in the British retail scene, with the closing date set on 15th January 2012.
The announcement comes in the shape of an "Open Letter" signed by Best Buy UK MD Steve Jensen. Reports of Best Buy's closing were already out earlier this month.
The closing will not only affect all 11 brick and mortar Best Buy stores-- the company's UK website will also go out of service.
Now all Best Buy stores are operating a clearance sale, as the retailer seeks to clear out remaining inventory.
This is not the first exit from an international market for the biggest CE retailer in the world this year-- in February it closed all 9 Best Buy-branded stores in China (in order to expand the more profitable Five Star-branded domestic chain) before exiting Turkey after a 2-store trial.
Now all European retailers can breathe a sigh of relief while the British retail market prepares to receive a rush of retail applicants...
