Some major events in the history of Future Shop

Best Buy announced on January 30, 2021 that they are cutting 950 jobs. Photo Best Buy

The Canadian Press

Future Shop closed its Canadian stores on Saturday. Here is a list of major events in the history of the retail chain.

1982: Hassan Khosrowshahi opens first Future Shop location in Vancouver, one year after immigrating from Iran.

1993: Future Shop goes public on Toronto and Vancouver stock exchanges as Canada’s largest electronics retailer. The company has 36 stores in Canada and two in the U.S., with plans to open 16 new locations within the year.

1999: After a failed expansion into the U.S., Future Shop pulls out of the American market. The retailer closes its 23 locations south of the border after shuttering five others the year before.

2001: U.S. retailer Best Buy purchases Future Shop in a $580-million deal. At the time, the Future Shop name is expected to disappear within three years.

Jan. 30, 2014: About 950 full-time employees are laid off at Best Buy and Future Shop stores across Canada as the company thins out management and combines some of its sales departments.

March 28, 2021 - Future Shop comes to an end. Best Buy Canada announces closure of 66 Future Shop stores, while the remaining 65 will be re-branded as Best Buy.

© The Canadian Press, 2015

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