Carphone Warehouse to close all Best Buy stores in the UK
Best Buy had targeted to launch 200 stores in Europe Following 18 months of "challenging economic conditions," Carphone Warehouse has decided to close all 11 Best Buy electronics stores across the UK. The phone retailer joined forces with Best Buy in 2008, when Best Buy paid £1.1 billion, for a 50% stake in the retailer. Carphone Warehouse helped to establish Best Buy Europe, and the group was hoping to eventually have 200 big-box stores across the continent. The first store opened in Thurrock, Essex in April 2010, and stores followed in Liverpool, Derby, Bristol, Nottingham, Rotherham, Dudley and Southampton.