Struggling electronics retailer Best Buy announced Saturday it will be closing its store in Caguas, located at the Las Catalinas mall, effective May 12.
The store is among the first 42 locations included in the first round closings Best Buy is effecting as part of the financial reorganization it disclosed late last month. In total, the retailer is expecting to shut down 50 stores.
The Caguas store employs about 150 people who were informed today of the upcoming closing.
“This was not an easy decision to make. 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,” the company said in a statement issued this morning.
Best Buy said it will be working to help those affected employees find other positions inside the cain.
“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 retailer said.
The chain, which entered the local market in 2008, will keep three stores on the island, in Bayamón, Hato Rey and Carolina.