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All of the Canadian stores will be closed

1,500 jobs cut as Best Buy shuts down Future Shop chain

US electronics retailer Best Buy is closing Canada retail chain Future Shop, converting 65 of the 131 stores into Best Buys.

The closing of these stores will result in 500 full-time jobs and 1,000 part-time jobs to be lost, reports the BBC. The chain has been owned by Best Buy since 2001.

Best Buy revealed that it would be investing around £106.5 million in its own operations in Canada, which will now be home to 192 Best Buy stores.

Brandon Buchanan, an ex-employee of Future Shop, told CTV News: “It happened kind of suddenly, because a lot of the people I still know work here, apparently, they showed up this morning and it was just locked out.

"I had planned on maybe coming back and checking it out for a job again now that I’m back in the city, but I guess that’s not happening."

Ron Wilson, president and COO of Best Buy, said in a statement: "Our first priority is to support them through this change. I want to express my appreciation to the employees who are leaving for their contributions to Best Buy Canada."

Best Buy said that following the closures it would accept Future Shop gift cards, honour product orders, warranties and services, and it will also accept any Future Shop returns and exchanges.

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