Doug Putman

Last updated

Doug Putman
Born
Douglas Robert Putman

(1984-03-25) 25 March 1984 (age 40)
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]

Related Research Articles

<span class="mw-page-title-main">His Master's Voice</span> Painting, British record label, and international trademark

His Master's Voice (HMV) was the name of a major British record label created in 1901 by The Gramophone Co. Ltd. The phrase was coined in the late 1890s from the title of a painting by English artist Francis Barraud, which depicted a dog named Nipper listening to a wind-up disc gramophone and tilting his head. In the original, unmodified 1898 painting, the dog was listening to a cylinder phonograph. The painting was also famously used as the trademark and logo of the Victor Talking Machine Company, later known as RCA Victor. The painting was originally offered to James Hough, manager of Edison-Bell in London, but he declined, saying "dogs don't listen to phonographs". Barraud subsequently visited The Gramophone Co. of Maiden Lane in London where the manager William Barry Owen offered to purchase the painting if it were revised to depict their latest Improved Gramophone model. Barraud obliged, and Owen bought the painting from Barraud for £100.

A chain store or retail chain is a retail outlet in which several locations share a brand, central management and standardized business practices. They have come to dominate many retail markets, dining markets, and service categories in many parts of the world. A franchise retail establishment is one form of a chain store. In 2005, the world's largest retail chain, Walmart, became the world's largest corporation based on gross sales.

<span class="mw-page-title-main">Toys "R" Us</span> American international toy, clothing and baby product retailer

Toys "R" Us is an American toy, clothing, and baby product retailer owned by Tru Kids and various others. The company was founded in 1948; its first store was built in April 1948, with its headquarters located in Parsippany-Troy Hills, New Jersey, in the New York metropolitan area.

<span class="mw-page-title-main">Bed Bath & Beyond</span> American houseware big-box retailer (1971–2023)

Bed Bath & Beyond was an American big-box retail chain specializing in housewares, furniture, and specialty items. Headquartered in Union, New Jersey, the chain operated stores in the United States and Canada, and was once counted among the Fortune 500 and the Forbes Global 2000. The chain filed for Chapter 11 bankruptcy in April 2023 and liquidated all of its remaining stores, with the last closing on July 30, 2023. Following the retail chain's liquidation, its name was adopted by online retailer Overstock.com, which acquired the company's trademarks in a bankruptcy auction. The name is also still used by the chain's former Mexican division, which is now independent.

<span class="mw-page-title-main">Big Lots</span> American furniture and home decor retail company

Big Lots Stores, Inc. is an American discount retail chain headquartered in Columbus, Ohio, United States.

<span class="mw-page-title-main">HMV</span> Public entertainment retailing company

HMV is a music and entertainment retailer, founded in the United Kingdom in 1921. In most of the world, the brand is owned by JD Sports and operated by Sunrise Records, except in Japan, where it is owned and operated by Lawson.

Tower Records is an international retail franchise and online music store that was formerly based in Sacramento, California, United States. From 1960 until 2006, Tower operated retail stores in the United States, which closed when Tower Records filed for bankruptcy and liquidation. Tower Records was purchased by a separate entity and was not affected by the retail store closings.

<span class="mw-page-title-main">Fopp (retailer)</span> British chain of retail shops

Fopp is a British chain of retail shops selling music, film, books and other entertainment products in the United Kingdom. The brand is owned by JD Sports, but the locations are operated under license by Sunrise Records.

Kaspien Holdings, Inc. is an American company that provides software and services for ecommerce. Kaspien Holdings operates on Amazon in the United States, Canada, United Kingdom, Spain, France, Italy, Germany, the Netherlands, Sweden, and India, as well as Walmart Marketplace, eBay, Google Shopping, and Target. Its interim CEO is Goldman Sachs veteran Brock Kowalchuk, who took over March 11, 2022.

Sam Goody is a music and entertainment retailer in the United States and United Kingdom, operated by The Musicland Group, Inc. It was purchased by Best Buy in 2000, sold to Sun Capital Partners in 2003, and filed for bankruptcy in 2006, closing most of its stores. The remaining stores were purchased by Trans World Entertainment, which also runs FYE, Saturday Matinee, and Suncoast Motion Picture Company.

<span class="mw-page-title-main">A&B Sound</span> Defunct Canadian home electronics retailer

A&B Sound was a Canadian home electronics retailer.

<span class="mw-page-title-main">Record shop</span> Retail outlet that sells recorded music

A record shop or record store is a retail outlet that sells recorded music. Per the name, in the late 19th century and the early 20th century, record shops only sold gramophone records. But over the course of the 20th century, record shops sold the new formats that were developed, such as eight track tapes, compact cassettes and compact discs (CDs). Today, in the 21st century, record stores mainly sell CDs, vinyl records and, in some cases, DVDs of movies, TV shows, cartoons and concerts. Some record stores also sell music-related items such as posters of bands or singers, related clothing items and even merchandise such as bags and coffee mugs.

Camelot Music was a mall-based American retailer of prerecorded music and accessories and was one of the largest music retailers in the United States based on store count. Camelot specialized in the sales of prerecorded music, especially vinyl LP, 45-rpm records, cassette tapes, CDs, and video/music accessories.

Upper Canada Mall is the 25th largest shopping mall in Canada, located in Newmarket, Ontario, Canada. The mall is situated on the northwest corner of the Davis Drive West and Yonge Street intersection. The mall is owned and operated by Oxford Properties, one of the largest shopping centre development companies in Canada. It opened in 1974, at which time its layout was a north-south arrangement with two sunken sitting areas surrounded by brick planters on the lower level.

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

2428392, Inc. 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 His Master's Voice stores. There are 206 locations as of May 2019. As of 2023, FYE is a unit of 2428392, Inc. and retained its headquarters.

<span class="mw-page-title-main">HMV Canada</span> Entertainment retailer in Canada

HMV Canada is a music and entertainment retailer, operated by Sunrise Records. Since February 2024, it has been a concession in select Toys "R" Us locations.

Sunrise Records and Entertainment Ltd., operating as Sunrise Records, is a Canadian record store chain based in Ancaster, 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.

<span class="mw-page-title-main">Toys "R" Us Canada</span> Canadian toy store chain

Toys "R" Us Canada Ltd. is a Canadian chain of toy stores. It was founded by the Canadian franchise of U.S. toy retail chain Toys "R" Us; as of 2018, however, it operates independently and is based in Concord, Ontario.

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.