Home » News » Future Shop Closes Regent Avenue Store

Future Shop Closes Regent Avenue Store

January 31, 2013 12:14 PM | News

Future Shop - Regent Avenue

Future Shop’s store at 1570 Regent Avenue suddenly closed on Thursday, January 31, 2013. (STAN MILOSEVIC / CHRISD.CA)

Future Shop has closed its Regent Avenue location in Winnipeg amid widespread nationwide closures of the company’s retail outlets.

Future Shop Notice

Future Shop posted this notice on its door for employees on Thursday. Click to enlarge. (STAN MILOSEVIC / CHRISD.CA)

Best Buy Canada Ltd., Future Shop’s parent company, has also closed several stores in British Columbia, Quebec, Alberta and Ontario. Fifteen stores in total are affected, including eight Future Shops and seven Best Buys.

About 900 employees will be laid off as a result of the closures across the country, which came suddenly Thursday morning. Fifty-eight employees have lost their jobs locally.

According to reports, the electronics retailer will reopen smaller kiosk-style stores in shopping centres and focus more heavily on Internet sales through its website as part of a transition strategy.

In a notice to employees posted outside of its shuttered Winnipeg store, Future Shop said, “We have been forced to make this difficult decision to close this store based on financial analysis, favourable store lease terms, and to respond to market demands.”

There are 58 Best Buy Canada stores in the country, while Future Shop maintains 139 under its brand. Three Winnipeg Future Shops remain — St. James, Pembina and Garden City — while Best Buy operates Regent and St. James locations.

— Staff

Tags: Canada | Retail