BCE's The Source to open 20 new stores this year as rival Best Buy pulls back

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BARRIE, Ont. - The Source chain of electronics stores plans to open 20 new locations this year across Canada. The retailer, a former subsidiary of bankrupt U.S. retailer Circuit City, is now owned by BCE Inc. (TSX:BCE) — parent of Bell Canada. Most of the locations operated by The Source, which did business for many years as Radio Shack, are much smaller than the stores operated by U.S. retailers. The Source's announcement on Friday comes a day after U.S.-based competitor Best Buy suddenly closed 15 of its Canadian Best Buy and Future Shop big-box stores.

Organizations: The Source, BCE Inc., Best Buy TSX Bell Canada Radio Shack Canadian Best Buy and Future Shop

Geographic location: U.S., BARRIE, Canada Circuit

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