Best Buy Co . on Saturday disclosed the 50 large stores it is closing as the struggling electronics retailer tries to shrink its massive footprint of about 1,100 big-box locations in the U.S.
The list of 50 stores being closed by the world’s largest specialty electronics chain includes seven locations in California and six in Illinois. The company had previously disclosed only a few of the locations, announcing last month that five stores in Minnesota’s Twin Cities and one in San Antonio would be closing later this year. Two additional stores, in Kansas City, Mo., and Scottsdale, Ariz., already closed in February, it said.
“This wasn’t an easy decision to make,” Best Buy said in a statement. “We chose the stores carefully, and are working to ensure the impact to our employees will be as minimal as possible.”
Best Buy said most of the stores will close by May 12, with three locations closing later this summer. It didn’t disclose how many workers would be losing their jobs, but said the employees were being notified Saturday and would be offered severance packages if they cannot find new positions elsewhere in the company.
The closures are part of a plan announced by former Chief Executive Brian Dunn last month to begin shifting away from the big-box formula that made the retailer a powerhouse in the 1990s, by remodeling some large stores, shuttering 50 others and opening new smaller stores focused on selling mobile phones and tablets….