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Confirmed- Best Buy UK to close

The UK arm of consumer electronics specialist chain Best Buy is on its way out, its been confirmed.

The company announced this morning (via Reuters) that it was to close all 11 of its currently existing stores in the UK.

It comes as an article in yesterday's Sunday Times, as reported by MCV, first predicted the closure.

"We always said we would open 11 stores and then conduct a strategy review. We are now conducting our evaluation with our partners and will provide an update in due course," a spokesperson commented.

Pocket Lint reports the chain has so far generated a loss of £83 million since its UK debut in April 2010, and Tuesday's upcoming financial report is expected to reveal a further £35 million loss.

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[Original story by Brenna Hillier, contributions by Johnny Cullen]

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