Best Buy has withdrawn from an imminent deal with Land Securities to open at Team Valley Park in Gateshead, Tyne and Wear.
The pull-out while the contract was waiting for formal legal approval raises questions about the US retailing giant’s commitment to building a national presence in the UK. Best Buy has six stores here and has started work on two others. The company said the decision did not reflect a change of strategy. It said it was in talks with several property owners about a variety of potential locations across the UK.
28/12/10 Times 35, 39
