Future Shop stores shut down
NEWS/ BUSINESS — The Future Shop store in Kamloops is closed, along with other Future Shops in Canada, but it may re-open in a week as a Best Buy.
Signs went up in future Shop windows across the country.
Best Buy Canada made the surprise announcement Saturday morning. Employees were apparently told of the closures as they arrived for work.
Sixty-six stores are closed for good, while 65 others will shut for a week and then reopen as Best Buys. There was no word on plans for the Kamloops store.
The company said about 500 full-time and 1,000 part-time jobs will be lost with the consolidation of Best Buy and Future Shop stores.
“Any decisions that impact our people are never taken lightly; our first priority is to support them through this change,” said company president Ron Wilson.
“Currently, 80 per cent of our customers are within a 15-minute drive to a store and this won’t change,” he said. “We will continue to have a strong store presence in all major markets in Canada.”
A press release said the company is addressing the fact that a significant number of its Future Shop and Best Buy stores are located adjacent to each other, “often in the same parking lot.”
Best Buy Company, the US. parent of Best Buy Canada, bought Future Shop for $580 million in 2001. Future Shop was founded in 1982.The http://www.futureshop.ca website says many Future Shop stores will be renovated and rebranded as Best Buy and will be closed only until April 4.
“Some future Shop stores that are located in close proximity to an existing Best Buy store will be permanently closed as of March 28.”
The company said out-of-work employees will receive severance, employee assistance and outplacement support.
ArmchairMayor.ca 
I extend my sympathy to the loyal workers at Future Shop in Kamloops. Imagine if you will, being told that basically you do not have a job come whenever. One would imagine all jobs would come to an end before the end of next week. Once again, co-operate headquarters in MN shows the lack of compassion for their workers on this side of the border. As mentioned elsewhere, Canadians, once again get it in the neck from a company operating on the other side of the border. Shame on the corporation, board of directors and shareholders. If it re-opens as Best Buy Canada, it is really annoying to see former Future Shop workers having to re-apply for their jobs. What kind of an impact will this have on salaries and benefits?
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