Adventure Electronics

{{Unreferenced, date=June 2019, bot=noref (GreenC bot) Adventure Electronics Inc (Aventure Électronique in

Quebec Quebec ( ; )According to the Canadian government, ''Québec'' (with the acute accent) is the official name in Canadian French and ''Quebec'' (without the accent) is the province's official name in Canadian English is one of the thirtee ...

) was a Canadian

consumer electronics Consumer electronics or home electronics are electronic (analog or digital) equipment intended for everyday use, typically in private homes. Consumer electronics include devices used for entertainment, communications and recreation. Usually r ...

retailer Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and t ...

with its old head office located in

Anjou, Quebec Anjou () is a borough (''arrondissement'') of the city of Montreal. Prior to its 2002 merger it was an independent city. Although it is no longer an independent city, it is still commonly known as known as ''Ville d'Anjou''. Geography The borou ...

. Smaller stores, sized much like

RadioShack RadioShack, formerly RadioShack Corporation, is an American retailer founded in 1921. At its peak in 1999, RadioShack operated over 8,000 worldwide stores named RadioShack or Tandy Electronics in the United States, Mexico, United Kingdom, Austra ...

, were called Aventure Boutique. At that time, it was once

Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...

's third-largest consumer electronics retailer after

and

Future Shop Future Shop was a Canadian electronics store chain. It was established in 1982 by Hassan Khosrowshahi. By 1990, the chain had become the country's largest retailer of computer and consumer electronics. In January 2013, the company operated 139 l ...

. Founded in 1989 by Robert Fragman, it went bankrupt on November 16, 1998. All Adventure Electronics' 143 stores were closed, and 1,271 jobs were lost within 85 stores in

Québec Quebec ( ; )According to the Government of Canada, Canadian government, ''Québec'' (with the acute accent) is the official name in Canadian French and ''Quebec'' (without the accent) is the province's official name in Canadian English is ...

and 58 in

Ontario Ontario ( ; ) is one of the thirteen provinces and territories of Canada.Ontario is located in the geographic eastern half of Canada, but it has historically and politically been considered to be part of Central Canada. Located in Central Ca ...

. In an official statement, the leaders of this chain of distribution of electronic products stress that their decision was made inevitable following the loss of the financial support their principal creditors.

Scotiabank The Bank of Nova Scotia (french: link=no, Banque de Nouvelle-Écosse), operating as Scotiabank (french: link=no, Banque Scotia), is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. One of Canada ...

, by far the principal creditor guaranteed with a credit of almost

CAD$ The Canadian dollar (currency symbol, symbol: Dollar sign, $; ISO 4217, code: CAD; french: dollar canadien) is the currency of Canada. It is abbreviated with the dollar sign $, there is no standard disambiguating form, but the abbreviation Can ...

36,000,000, had given an opinion of defect one week ago and half. Adventure Electronics, not having been able to find the funds necessary to the re-establishment of its situation, the chain, which was committed in a plan of rectification since the beginning of 1998, had to resign itself to close its 143 stores. This was blamed on rival Future Shop's expansion into

in 1995. With the demise of Adventure Electronics in

1998 1998 was designated as the ''International Year of the Ocean''. Events January * January 6 – The '' Lunar Prospector'' spacecraft is launched into orbit around the Moon, and later finds evidence for frozen water, in soil in permanently ...

, this left

as its only big-box consumer electronics retailer until

Best Buy Best Buy Co. Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota. Originally founded by Richard M. Schulze and James Wheeler in 1966 as an audio specialty store called Sound of Music, it was rebra ...

acquired Future Shop in

2001 The September 11 attacks against the United States by Al-Qaeda, which Casualties of the September 11 attacks, killed 2,977 people and instigated the global war on terror, were a defining event of 2001. The United States led a Participants in ...

, leading for Best Buy to open locations in Canada for

2002 File:2002 Events Collage.png, From left, clockwise: The 2002 Winter Olympics are held in Salt Lake City; Queen Elizabeth The Queen Mother and her daughter Princess Margaret, Countess of Snowdon die; East Timor gains East Timor independence, indepe ...

. Defunct companies of Quebec Consumer electronics retailers of Canada