The international electronics store chain, Best Buy, announced its departure from Mexico as a result of the economic crisis generated by COVID-19.
In a statement, the U.S.-origin company detailed that of its 49 branches in the country, 8 have already been closed over the course of the year and the rest will slow operations in an orderly manner from December 31.
Best Buy Mexico President Fernando Silva commented that despite the good work done by his associates in our country «the effects of the pandemic have been very profound and it is not feasible for us to maintain our business in Mexico».
In its earnings report, the chain argued that its decision to curb operations is due to the lower gross profit internationally in Mexico, in addition to recording restructuring charges of $111 million in the third quarter of the year.
Best Buy Mexico clarified that its website will bestbuy.com.mx continue to operate until inventory is exhausted.
«All our customers can be confident that both the orders in process and the purchases they make over the next few weeks will be delivered in a timely way,» reads in the statement.
For any questions about the delivery of products customers can contact the call center and through the social networks of Best Buy Mexico.
The company assured that they will provide assistance and support to their employees in this process and that the conditions of conclusion of employment relationship «will be more favourable to those established by law».
They will also offer workshops for the effective use of job search platforms, resume creation and work interview simulations.
«Additionally, we will cover the Life Insurance of all employees throughout 2021 and will also extend Major Medical Expense Insurance to employees who have it for the same term,» it reads.
«This decision does not in any way reflect the efforts made by our team of collaborators. We must be very proud of what we have achieved at Best Buy Mexico (…) I have nothing left but to thank the collaborators and business partners who were part of this adventure during these almost 13 years,» said Fernando Silva.
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