Carphone Warehouse will close all of Best Buy UK superstores, citing very disappointing financial performance.
Each of the 11 stores opened at some point in 2010, after being delayed for opens in 2009.
Best Buy and Carphone teamed up to bring the popular American retailer to Europe, but competition and a Europe on the brink of recession has killed the venture.
Performance was so bad that Carphone's plans to launch 200 stores in the EU by 2013 was scrapped after the first 11 were built.
When asked for comment, Carphone only had this to say (via Lint):
To date, the stores have accumulated 115 million pounds in losses.
Best Buy and Carphone teamed up to bring the popular American retailer to Europe, but competition and a Europe on the brink of recession has killed the venture.
Performance was so bad that Carphone's plans to launch 200 stores in the EU by 2013 was scrapped after the first 11 were built.
When asked for comment, Carphone only had this to say (via Lint):
We always said we would open 11 stores and then conduct a strategy review. We are now conducting our evaluation with our partners and will provide an update in due course.
To date, the stores have accumulated 115 million pounds in losses.
