Bose to shut 119 shops in North America, Europe, Japan and Australia; here's why

Bose Corporation, a premium audio equipment seller, is closing its 119 retail stores worldwide across North America, Australia, Japan and Europe. The company has said its products are being "increasingly purchased online". The shutting down of the stores is likely to impacts hundreds of jobs. Bose will reportedly provide outplacement facilities and severance to the employees who get affected.

The company said that it will be shutting 119 of its "remaining" stores in Japan, North America, Europe and Australia over the next few months. Approx 130 stores of the brand in China and the UAE are however expected to remain open, according to a ZDNet report. The Global Sales Vice President of Bose, Colette Burke said that earlier the retail stores gave the customers a way to experience and test the multi-component, CD and DVD based entertainment systems.

According to Telegram.com report, the premium sound equipment manufacturer had approx 10,500 employees in its North America, Europe and Asia offices in 2016.

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