Best Buy Closes Magnolia Corporate Headquarters, Some StoresFebruary 16, 2009 By Stephen Silver
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.