Liquidation sales open to the public are underway across Canada at Future Shop locations. Commercial and office goods available include shelving, visual displays, lifts, office equipment, electronic displays & cabinets, pallet racking, balers, carts and more.
It was announced earlier this year that parent company Best Buy Canada was consolidating Best Buy and Future Shop stores under the Best Buy name. 66 Future Shop stores are permanently shut down with a loss of around 1,500 jobs. Another 65 stores are converting to the Best Buy name.
Future Shop, the Canadian store chain was started in 1982 and was the country’s biggest computer and consumer electronics retailer in the 1990’s. It was acquired by the American company Best Buy for half a billion dollars in 2001. With most Future Shop and Best Buy locations being within 15 minutes of each other, the painting was on the wall for a consolidation which started in early 2015.
Canadians are getting used to the closing or changing of many iconic Canadian brands in today’s global market and forces like the Canadian economy and online retail. This includes Target’s acquisition of Zellers, Wall Street’s acquisition of HBC, Burger King’s purchase of Tim Horton’s and Best Buy’s purchase of Future Shop. Last year Canadian retailer Jacob closed its doors and Reitmans started to consolidate its Smart Set stores. This year has seen the departure of foreign-owned Target Canada, Mexx Canada and Sony Canada.
Written by Amar Mirchandani @amarmirch
