Doug Putman Explained

Doug Putman
Birth Name:Douglas Robert Putman
Birth Date:25 March 1984
Birth Place:Ancaster, Ontario, Canada
Occupation:Retailer in Canada, the United States, the United Kingdom, Ireland and Belgium.
Known For:
Boards:
  • 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.

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 locations has also closed.[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 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]

References

  1. News: McNeil . Mark . 3 March 2017 . Ancaster entrepreneur riding the wave of analog at 33 revolutions per minute . 5 February 2019 . The Hamilton Spectator.
  2. Web site: 28 February 2017 . Will Sunrise Records avoid costly downtown Toronto? . 15 May 2022 . The South Bayview Bulldog . en-CA.
  3. Bliss . Karen . 2019-02-08 . Sunrise Records Chief Doug Putman Talks Rescuing UK's HMV Music Chain, Plans to Bring It Profitable . 2024-01-24 . Billboard . en-US.
  4. Web site: Sunrise Has Plan to Succeed Where HMV Failed: Owner Talks Vinyl Surge, Antsy Suppliers & (More) Expansion . 5 February 2019 . Billboard.com.
  5. Bliss . Karen . 2019-02-08 . Sunrise Records Chief Doug Putman Talks Rescuing UK's HMV Music Chain, Plans to Bring It Profitable . 2024-01-24 . Billboard . en-US.
  6. Web site: Bolton . Dan . 2020-12-01 . T. Kettle Rebrands 45 Former DavidsTea Stores . 2024-01-24 . STiR Coffee and Tea Magazine Global Business Insight on Coffee and Tea . en-us.
  7. Web site: 2024-04-09 . T. Kettle Locations .
  8. Web site: 19 August 2021 . Putman Investments to Purchase Toys'R'Us and Babies'R'Us Canada . 21 August 2021 . www.businesswire.com . en.
  9. Web site: Toneguzzi . Mario . 2023-08-10 . Inside Doug Putman's New Home Furnishings Concept 'rooms + spaces' as Retailer Expands Rapidly in Canada [Interviews/Photos] ]. 2024-01-24 . Retail Insider . en-US.
  10. Web site: Staff . Victoria Buzz . 2024-02-15 . Victoria's Rooms + Spaces closes just months after grand opening . 2024-04-08 . Victoria Buzz . en-US.
  11. Web site: KelownaNow . Rooms+Spaces forced to close at Kelowna's Orchard Plaza . 2024-04-08 . KelownaNow . en.
  12. Web site: rooms and spaces · 221 Henry St, Brantford, ON N3S 7R4, Canada . 2024-04-08 . rooms and spaces · 221 Henry St, Brantford, ON N3S 7R4, Canada . en.
  13. Web site: Nazir . Sahar . 2020-01-24 . HMV owner Doug Putman bags US music & film retailer for £7.6m - Retail Gazette . 2024-01-24 . www.retailgazette.co.uk . en-GB.
  14. Web site: 5 February 2019 . HMV chain saved but some stores will close . 5 February 2019 . Bbc.co.uk.
  15. Web site:
  16. Web site: 2023-06-28 . HMV opens first store in Dublin in a decade . 2024-01-26 . BreakingNews.ie . en.
  17. News: Butler . Sarah . 2023-08-25 . HMV owner makes last-ditch bid to rescue Wilko . 2024-01-24 . The Guardian . en-GB . 0261-3077.
  18. Web site: 2023-11-23 . [In the picture] HMV opens first store in Belgium ]. 2024-01-26 . RetailDetail EU . en-US.
  19. Web site: Goldfingle . Gemma . 2024-03-11 . HMV owner mulls The Body Shop bid as US and Canada arms collapse - Retail Gazette . 2024-03-11 . en-GB.

External links

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Doug Putman".

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