Best Buy has announced the list of stores that will come to a closure on May 12th. The Electronics Retail giant announced closure of 50 stores since it struggles in the face of tough competition from the e-commerce people like Amazon and others. The company has already shut two stores in the Kansas City and Scottsdale in this process. Best Buy recorded a $1.7 billion loss for the last fiscal quarter and now, 42 stores are being closed across 22 different states.
Best Buy has also stated that the last day to close some stores would be May 12th and some more stores would be closed this summer. The company has also taken steps to take care of the employees affected due to this process and is planning to re-locate the employees across their stores.
Source: Best Buy