Future Shop and Best buy closed several stores across Canada yesterday, and Sears announced 700 Lay offs Canada wide.
Yep this economy is shit.
I think it’s going to get worse.
BURNABY, B.C. — Best Buy Canada has closed eight Future Shop and seven Best Buy big box stores across the country.
Some 900 employees will be laid off because of the closures, representing less than five per cent of Best Buy Canada’s workforce, a spokeswoman said.
Best Buy has been facing tough competition from discounters and online retailers, a victim of what’s known as “showrooming” — when people browse in stores and then buy the products more cheaply online from competitors such as Amazon.
Best Buy Canada says it continues to operate more than 120 Best Buy and Best Buy Mobile locations along with over 140 Future Shop stores across the country.