­Carphone Warehouse to close UK Best Buy shops

All 11 'big box' stores to close as retailer focuses on phone stores.

The Best Buy stores are part of Best Buy Europe, a joint venture between US group Best Buy and Carphone Warehouse. This JV was formed in 2008 when Best Buy paid $2.1bn to buy a 50 per cent stake in Carphone Warehouse's retail division.

Now, that union is being dissolved at a nice profit for CPW.

This is because Best Buy will pay $1.3 billion to buy CPW out of their joint US mobile retail venture. This business has exceeded expectations, while the UK superstores have been hobbled by retail gloom and a tough climate for high street consumer electronics.

Best Buy's 11 UK outlets are in Liverpool, Derby, Bristol, Nottingham, Rotherham, Dudley, Thurrock, Southampton, Croydon, Hayes and Enfield.

CPW said it will now focus on selling electronics goods from its mobile stores in the UK, and 1,648 Phone House shops in continental Europe.