Best Buy closing UK megastores

Best Buy will close its 11 megastores in the UK, the company announced today. The company's eastward expansion plans from three years ago failed to materialize, which would have seen Best Buy open 100 stores across the island nation before invading mainland Europe. This follows Best Buy's retreat earlier this year from opening branded stores in China and Turkey.

Many of the displaced staff of 1,000 are to be redeployed among the approximately 2,500 small box stores the company has in the region with a business partner. Many of those stores will be transformed into the "Wireless World" format.

With Best Buy's overseas business focusing specifically on mobile, the company can take account of the stiff competition it faces in the States on big box items. We've seen some of the changes already, like the new game departments in stores.