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Last updateFri, 15 Jan 2021 2pm

Best Buy shuts up shop in Mexico

Guadalajara’s five Best Buy stores are set to close after Best Buy Co. Inc. announced that it will be shutting all of its outlets in Mexico at the end of December.

In a statement, the company said the negative effects of the ongoing cornovirus pandemic have prompted the company to improve its organizational structure and its strategic focus.

Despite “the extraordinary work of our team in Mexico, the effects of the pandemic have been very profound and it is not feasible for us to maintain our business there,” Best Buy Chief Executive Corie Sue Barry said.

The electronics retailer operates five stores in metro-area Guadalajara, in the Galerias and Andares malls in Zapopan, Plaza Forum in Tlaquepaque, Punto Sur in Tlajomulco, and Plaza Midtown in Guadalajara (an “express” store).

Because of slumping sales due to the pandemic and an unsure outlook, Best Buy closed eight of its 49 branches in Mexico so far this year.

The bestbuy.com.mx website will continue to operate until its inventory is exhausted, the company said.

Best Buy promised to honor all its labor commitments required under Mexican law. “We will give workshops to our teams for the effective use of the different job search platforms, and the creation of CVs, as well as simulations of job interviews. Additionally, we will cover life insurance for all employees throughout the year 2021 and also extend medical insurance,” the company stated.

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