Doug Putman

Last updated

Doug Putman
Born
Douglas Robert Putman

(1984-03-25) 25 March 1984 (age 40)
Ancaster, Ontario, Canada
Occupation(s) Retailer in Canada, the United States, the United Kingdom, Ireland and Belgium.
Known for
Board member of
  • Sunrise Records
  • Everest Toys
  • HMV and Fopp
Website https://putmaninvestments.com

Douglas Robert Putman (born 25 March 1984) is a billionaire Canadian businessman, predominately trading in the retail sector across North America and Europe. Through his firm, Putman Investments, he owns numerous retail chains involving music, entertainment, toys and home goods.

Contents

Early life

Douglas Putman was born on 25 March 1984 and raised in Ancaster, Ontario. [1] His family owned Everest Toys, which he managed as of 2017. [2]

Career

Canada

In 2010, Putman began working for his family-owned Everest Toys.

In October 2014, Putman acquired Sunrise Records and began opening new locations. [3]

In February 2017, it was announced that Putman had acquired the lease agreements from HMV Canada after it fell into receivership, converting these premises into Sunrise Records stores, massively increasing the number of Sunrise Records locations from 10 to 70. [4] [5]

In October 2020, Putman founded tea shop T. Kettle, rebranding 45 former DavidsTea locations. [6] As of April 2024, only two locations remained open. [7]

In August 2021, Putman announced he would buy Toys "R" Us Canada and Babies "R" Us Canada from Fairfax Financial. [8]

In May 2023, Putman acquired 21 Canadian retail locations from Bed Bath & Beyond and turned them into Rooms + Spaces. [9]

In total, 24 Rooms + Spaces locations were opened. Most stores were closed after being open for only a few months, as the leases were defaulted. As of February 2024, only two Rooms + Spaces locations remain open (at West Edmonton Mall and Brantford.). As of April 2024, Google reports that the Brantford location has also closed and moved to Hamilton as an outlet store. [10] [11] [12]

United States

In January 2020, Putman saved entertainment chain FYE from bankruptcy for $10 million USD. [13]

United Kingdom, Ireland and Belgium

On 5 February 2019, a number of HMV and Fopp locations were acquired by Sunrise Records, owned by Putman, for £883,000, saving 100 stores and 1,600 jobs. The company continues to trade under the HMV and Fopp brands. [14] [15] Putman would reopen HMV in Ireland in 2023. [16] In August 2023, Putman attempted to save the British home goods retailer Wilko from administration, but was unable to form a rescue deal in time, with the retailer collapsing. [17] In November 2023, HMV expanded into Belgium. [18] In March 2024, Putman expressed interested in rescuing the British cosmetics chain, The Body Shop, from administration. [19]

Companies

Companies include: [20]

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<span class="mw-page-title-main">FYE (retailer)</span> American chain of entertainment retail stores

2428392, Inc., doing business as FYE, is an American chain of entertainment retail stores headquartered in Albany, New York. Formerly owned by Trans World Entertainment, it began in 1993 and was expanded in 2001, 2006, and again in 2009 after buying out and rebranding mall-based stores Camelot, Sam Goody, Spec's Music, Strawberries, Record Town, Coconuts Music & Movies, DiscJockey, Saturday Matinee, The Wall, Suncoast Motion Picture Company, Musicland, Media Play, and HMV stores. There are 206 locations as of May 2019. As of 2023, FYE is a unit of 2428392, Inc. and retained its headquarters.

2428391 Ontario Inc. is a Canadian record store chain based in Hamilton, Ontario. Currently owned by Doug Putman, it currently operates in nine Canadian provinces. Originally operating with only 9 locations in Ontario, the chain announced a major expansion in February 2017, under which it purchased leases for 70 locations formerly occupied by HMV Canada. The chain runs approximately 85 locations across Canada.

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References

  1. ↑ McNeil, Mark (3 March 2017). "Ancaster entrepreneur riding the wave of analog at 33 revolutions per minute". The Hamilton Spectator. Retrieved 5 February 2019.
  2. ↑ "Will Sunrise Records avoid costly downtown Toronto?". The South Bayview Bulldog. 28 February 2017. Retrieved 15 May 2022.
  3. ↑ Bliss, Karen (8 February 2019). "Sunrise Records Chief Doug Putman Talks Rescuing UK's HMV Music Chain, Plans to Bring It Profitable". Billboard. Retrieved 24 January 2024.
  4. ↑ "Sunrise Has Plan to Succeed Where HMV Failed: Owner Talks Vinyl Surge, Antsy Suppliers & (More) Expansion". Billboard.com. Retrieved 5 February 2019.
  5. ↑ Bliss, Karen (8 February 2019). "Sunrise Records Chief Doug Putman Talks Rescuing UK's HMV Music Chain, Plans to Bring It Profitable". Billboard. Retrieved 24 January 2024.
  6. ↑ Bolton, Dan (1 December 2020). "T. Kettle Rebrands 45 Former DavidsTea Stores". STiR Coffee and Tea Magazine | Global Business Insight on Coffee and Tea. Retrieved 24 January 2024.
  7. 1 2 "T. Kettle Locations". 9 April 2024.
  8. ↑ "Putman Investments to Purchase Toys'R'Us and Babies'R'Us Canada". www.businesswire.com. 19 August 2021. Retrieved 21 August 2021.
  9. ↑ Toneguzzi, Mario (10 August 2023). "Inside Doug Putman's New Home Furnishings Concept 'rooms + spaces' as Retailer Expands Rapidly in Canada [Interviews/Photos]". Retail Insider. Retrieved 24 January 2024.
  10. ↑ Staff, Victoria Buzz (15 February 2024). "Victoria's Rooms + Spaces closes just months after grand opening". Victoria Buzz. Retrieved 8 April 2024.
  11. ↑ KelownaNow. "Rooms+Spaces forced to close at Kelowna's Orchard Plaza". KelownaNow. Retrieved 8 April 2024.
  12. ↑ "rooms and spaces · 221 Henry St, Brantford, ON N3S 7R4, Canada". rooms and spaces · 221 Henry St, Brantford, ON N3S 7R4, Canada. Retrieved 8 April 2024.
  13. ↑ Nazir, Sahar (24 January 2020). "HMV owner Doug Putman bags US music & film retailer for £7.6m - Retail Gazette". www.retailgazette.co.uk. Retrieved 24 January 2024.
  14. ↑ "HMV chain saved but some stores will close". Bbc.co.uk. 5 February 2019. Retrieved 5 February 2019.
  15. ↑ https://trademarks.ipo.gov.uk/ipo-tmcase/page/History/1/UK00002460933.{{cite web}}: Missing or empty |title= (help)
  16. ↑ "HMV opens first store in Dublin in a decade". BreakingNews.ie. 28 June 2023. Retrieved 26 January 2024.
  17. ↑ Butler, Sarah (25 August 2023). "HMV owner makes last-ditch bid to rescue Wilko". The Guardian. ISSN   0261-3077 . Retrieved 24 January 2024.
  18. ↑ "[In the picture] HMV opens first store in Belgium". RetailDetail EU. 23 November 2023. Retrieved 26 January 2024.
  19. ↑ Goldfingle, Gemma (11 March 2024). "HMV owner mulls The Body Shop bid as US and Canada arms collapse - Retail Gazette" . Retrieved 11 March 2024.
  20. 1 2 3 4 5 Putman, Doug. "Investments – Putman Investments". putmaninvestments.com. Retrieved 26 August 2024.
  21. ↑ Putman, Doug. "Putman Investments". putmaninvestments.com. Retrieved 26 August 2024.
  22. ↑ "UK music retailer HMV sold to Canada's Sunrise Records – Putman Investments". putmaninvestments.com. Retrieved 26 August 2024.
  23. ↑ "Sunrise Records Completes FYE Acquisition From Trans World Entertainment – Putman Investments". putmaninvestments.com. Retrieved 26 August 2024.
  24. 1 2 3 Putman, Doug. "FYE Store Locator". FYE. Retrieved 26 August 2024.
  25. 1 2 "Putman Investments to purchase Toys'R'Us and Babies'R'Us Canada – Putman Investments s'apprête à acheter Toys'R'Us et Babies'R'Us Canada – Putman Investments". putmaninvestments.com. Retrieved 26 August 2024.
  26. ↑ Putman, Doug. "Sites-rns-ca-Site". www.roomsandspaces.ca. Retrieved 26 August 2024.
  27. ↑ Deschamps, Tara (1 February 2024). "HMV making comeback through Toys 'R' Us locations". CTVNews. Retrieved 26 August 2024.
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