Best Buy to close its doors in Mundelein
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Best Buy has announced its Mundelein store at 1110 N. Route 83 in Mundelein is one of 42 store locations that are slated to permanently close by May 12.
Mundelein officials say they were not aware of the planned closure of the store until Best Buy confirmed it in a press release on April 14.
“We have not talked to Best Buy,” said Victor Barrera, director of planning and development for Mundelein. “We plan to have some conversations with the property owners (of the shopping center) but it more or less sounds like the decision to close has been made and there’s no turning back.”
“We’re disappointed to see them leave,” he added. “They were certainly an asset to the community. The store closing signifies a loss equivalent to $100,000 in sales tax revenue.”
Barrera added the staff of the store had been very supportive of local community events and had sponsored some youth programs.
Barrera said he does not know the exact reason Best Buy is closing stores, but said the economy is probably a factor and the ability of consumers to easily purchase electronic products on-line has also likely impacted the company’s sales.
Best Buy officials declined comment on the closure of the Mundelein store or the number of employees who would be impacted. The company said it is working to help affected employees find positions at other stores if possible and severance packages will be offered to laid off workers.
Best Buy officials announced the store closures as part of company-wide restructuring to cut costs by eliminating some of its big-box stores in favor of smaller, more profitable Best Buy Mobile stores. Overall, the company plans to close a total of 50 big-box stores nationwide by the end of 2012.
Noel Escalona, vice president of leasing for the Shiner Group, which owns the Mundelein Crossing Shopping Center, said the closing of the Best Buy store at that location is not a reflection on the overall health of the shopping center.
“I believe the shopping center does very well,” he said. “Overall, the center is performing. I think it was a fundamental issue with Best Buy.”
The Mundelein Best Buy will be holding a clearance sale on store items until May 12 or while supplies last.
Escalona said it’s too early to tell what potential tenants might be interested in leasing the Best Buy space.