No love for Best Buy in the UK
If you are living in the UK and have enjoyed shopping at Best Buy UK you may be sad to hear this. Despite the fact that the Best Buy UK stores were ranked highly in customer service, they continued to lose money. This has lead to partners Best Buy and Carphone Warehouse deciding to close all 11 locations of the Best Buy UK stores reprots TheVerge.
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At the same time, Carphone Warehouse is selling its portion of Best Buy Mobile operated in the US to Best Buy for $1.3 billion. The Best Buy Mobile stores have been doing very well in the US. Carphone Warehouse will sell more connected products via its existing locations to continue to serve the market Best Buy UK served.
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The loss from the Best Buy UK operations so far has amounted to £83 million. The money made for selling the portion of US operations Carphone Warehouse held should help offset the losses from the UK operation. It’s not clear if the Best Buy UK website will close or continue to operate at this time.