Future Shop

company

Future Shop was a Canadian electronic retailer. It was headquartered in Burnaby, British Columbia. The largest Future Shop in Canada was in Edmonton, Alberta. It was purchased on November 4, 2001 for $580 million by Best Buy.[1] It was founded in 1982 by Hassan Khosrowshahi, an Iranian entrepreneur who settled in Vancouver, British Columbia after leaving Iran.[2]

Future Shop
Subsidiary
IndustryRetail
FateMerged with Best Buy
Founded1982
DefunctMarch 28, 2015
HeadquartersBurnaby, British Columbia, Canada
Number of locations
139
Key people
Ron Wilson (President and Chief Operating Officer)
Annalisa King (Senior Vice President and Chief Financial Officer)
Charles Tobin (Senior Vice President)
ProductsElectronics
Number of employees
113,100
ParentBest Buy Canada
Websitewww.futureshop.ca
A Future Shop in Halifax, Nova Scotia

On March 28, 2015, it was announced by Best Buy that they had decided to retire the Future Shop brand and close 66 locations.[3] The former Future Shop locations were re-opened as Best Buy stores.[4] In 2014 and 2015, stores in New Westminster, Nanaimo, Victoria, Langford, Surrey, Lachenaie, Sherbrooke,[5][6] Boucherville, Greenfield Park, Montreal, Ottawa,[7] Regina,[8] Kingston,[9] New Minas, and New Glasgow[10] were closed.

ReferencesEdit

  1. "Best Buy snaps up Future Shop for $580 million". Canadian Broadcasting Channel. Retrieved February 10, 2014.
  2. "Future Shop Ltd. History". Funding Universe. Retrieved February 10, 2014.
  3. "Future Shop stores closed across Canada, some to rebrand as Best Buy". CBC News. Retrieved October 24, 2015.
  4. Flavelle, Dana (April 6, 2015). "Future Shop stores re-open under Best Buy name". Toronto Star. Retrieved October 24, 2015.
  5. "15 Future Shop and Best Buy stores closed across Canada, 900 employees laid off | Vancouver Sun". March 30, 2015. Archived from the original on March 30, 2015. Retrieved May 3, 2022.
  6. "Best Buy, Future Shop to layoff 950 employees". torontosun. Retrieved May 3, 2022.
  7. "Future Shop in Gloucester to close up shop". Ottawa. January 27, 2015. Retrieved May 3, 2022.
  8. "Regina Future Shop closing Monday". February 24, 2015. Archived from the original on February 24, 2015. Retrieved May 3, 2022.
  9. "Future Shop to close its Kingston store". thewhig. Retrieved May 3, 2022.
  10. "SaltWire | Nova Scotia". www.saltwire.com. Retrieved May 3, 2022.

Other websitesEdit