Best Buy announced Thursday that it has closed subsidiary Magnolia Audio Video's seven West Coast stores, as well as its corporate headquarters and distribution center in Kent, Wash.
Magnolia will move its corporate offices to Best Buy's headquarters in Richfield, Minn, under a new management structure. It will also maintain its stores within Best Buy locations, as well as six remaining West Coast stores. Plans to open a Chicago store this year will go forward, a company spokeswoman said; Magnolia will realign its custom installations at the six West Coast stores to three regional centers.
In an e-mail to reporters, spokeswoman Sue Busch Nehring reiterated Best Buy's commitment to the Magnolia brand, with an eye towards making it more efficient and cost-effective.