Sunrise Records owner Doug Putman has bought the chain’s UK arm, which went into administration last year.
Struggling UK record store company HMV has been handed another lifeline, having been bought out by Candian music store chain owner Doug Putman. The businessman is set to acquire around 100 of the 125 stores across the UK, saving close to 1,600 jobs.
There had been other interested parties, including Sports Direct owner Mike Ashley, however, Putman’s bid was the one that was accepted. His Sunrise Records business took over 70 HMV sites in Canada following financial trouble the chain had there in 2017.
The new owner of HMV, Doug Putman, says the high street music chain will stay in the UK for a “long time”. 100 stores have been saved and will retain the name HMV, with a focus on vinyl #r4today https://t.co/Ha7EhcN6qH pic.twitter.com/i9V3UyChdK
— BBC Radio 4 Today (@BBCr4today) February 5, 2019