When West Kelowna’s Future Shop opened in October, 2011, few would have predicted its future closure 16 months later.
The store was one of 15 Best Buy and Future Shop locations across the country to shut its doors for good Thursday.
According to a Best Buy Canada press release, the closures are phase one of a long-term “transformational strategy to optimize the company’s retail footprint across the country.”
The evolution will focus on rolling out smaller web concept and mobile locations throughout Canada over the next 36 months.
Best Buy Canada’s statement indicated the move was based on a review of its retail footprint in an effort to reduce unnecessary costs, eliminate redundant operating systems and optimize its real estate strategy to reflect a “changing retail landscape.”
Approximately 40 workers will be affected by the shutdown.
“Employees affected by the Best Buy and Future Shop store closures will receive severance support as well as access to employee assistance programs and career transition support,” the release stated.
The closure was done without advance notice to employees.
Anthem Properties Group Ltd., owners of Snyatan Shopping Centre, said it was against their policy to comment on the Future Shop closure; however, admitted they were “surprised” by the news.