Photo: Best Buy


After a 13-year-stint as the best-known source of electronic gear in the country, Best Buy is closing down all its stores in Mexico, the U.S.-based company announced on Monday, Nov. 23.

Best Buy, which opened its first Mexican retail outlet in 2008, with an initial investment of $45 million, said it plans to shutter all 46 of its stores by the end of the year.

Earlier this year, the company began offering more specialized online sales and tech help to accommodate to covid-19 pandemic lockdowns.

It also implemented special financing programs to sell computers and other electronics to people without credit cards, with up to 24 months of credit, leading to first and second quarter financial gains for the company.

Notwithstanding, in its third quarter report, Best Buy said that it would close its stores in Mexico as part of a $111 million global corporate restructuring.

…Nov, 25, 2020

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