Which Best Buy Stores Are Closing?

The Best Buy store near the Mall of Georgia in Buford is not among the 50 locations nationwide slated to close.

According to a press release issued by Best Buy, the decision regarding which stores to close was not an easy one.

“We chose these stores carefully, and are working to ensure the impact to our employees will be as minimal as possible, while serving all customers in a convenient and satisfying way. But we also recognize the impact this news has on the people who deserve respect for the contributions they have made to our business,” officials stated in the press release.

The company said it will be working to help affected employees find other positions inside Best Buy.

“If they don’t find new positions, or if they choose not to work at a different location, a transition including severance packages will be available,” the company said.

In Georgia, only the Fayetteville and Loganville Best Buy stores are slated for closure.

“Customers currently doing business with these stores are being contacted [Saturday],” the company said.

“We expect most of these stores will permanently close by May 12. Three additional locations are expected to permanently close later this summer.”

The news of store closures first came after the company based in Richfield, MN, released its fiscal year 2011 fourth-quarter earnings, showing a $1.7 billion loss in revenue. In addition, the Global Post reported the company aims to open 50 stores in China by 2013. 

The news of closures and downed profits are not a surprise to many, as Best Buy reported shortfalls after its third quarter in 2011 as well.

In January 2012, and also suggested it was getting closer and closer to bankruptcy every day.

"These changes will also help lower our overall cost structure," CEO of Best Buy Brian J. Dunn said in a release earlier this year. "We intend to invest some of these cost savings into offering new and improved customer experiences and competitive prices—which will help drive revenue. And, over time, we expect some of the savings will fall to the bottom line."