Best Buy Details Store Closures15 Apr, 2012 By: Erik Gruenwedel, Chris Tribbey
Best Buy April 14 notified employees at 42 stores that their locations would close, most likely by May 12, the company announced.
Two stores — one in Kansas City, Mo., one in Scottsdale, Ariz. — have already shut their doors, while five stores in the Twin Cities area and one in San Antonio have also been notified they will close before the end of 2012.
Best Buy announced the intent to close 50 stores May 29 after posting a fourth-quarter (ended March 3) net loss of nearly $1.7 billion. Company CEO and director Brian Dunn resigned April 10 amid an internal investigation regarding undisclosed personal conduct issues.
“This was not an easy decision to make,” Best Buy said in a news release. “We chose these stores carefully, and are working to ensure the impact to our employees will be as minimal as possible, while serving all customers in a convenient and satisfying way. But we also recognize the impact this news has on the people who deserve respect for the contributions they have made to our business.”
The retailer promised to help employees at the shuttered stores find other positions within the company, or offer severance packages.
Locations of the 50 Best Buy closures:
Casa Grande, Ariz.
East Palo Alto, Calif.
Moreno Valley, Calif.
Fort Myers, Fla.
West Dundee, Ill.
Kansas City, Kan.
Hunt Valley, Md.
Brooklyn Center, Minn.
Kansas City, Mo.
Rocky Mount, N.C.
New York, N.Y.