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Best Buy to close 15 stores in Canada

Feb. 01, 2013 @ 11:50 PM

MINNEAPOLIS (AP) -- Best Buy said Thursday that it will close 15 of its stores in Canada and cut about 5 percent of its workforce in the country as it tries to revamp its strategy there.

The retailer said that in the first phase of a long-term transformation, it will permanently close eight of its Future Shop stores and seven of its Best Buy stores. The company bought the Future Shop electronics chain in 2001.

Best Buy Canada has 120 Best Buy and Best Buy Mobile and 140 Future Shop stores across the country.