HMV owner joins private equity firms eyeing WHSmith’s high street stores
The owner of HMV has joined a number of private equity firms reportedly in the running to acquire WHSmith’s 500 high street stores.
Doug Putman – the Canadian businessman who rescued the music and technology retailer from bankruptcy in 2019 – is in discussions with WHSmith’s advisers, The Sun understands.
Other names being touted to acquire the retailer’s high street estate include Bensons for Beds owner Alteri and Modella Capital, which owns Hobbycraft.
In 2023, HMV owner Putman came close to acquiring embattled retailer Wilko, before the discounter was acquired by The Range.
WHSmith confirmed earlier this week that it is exploring potential strategic options for its high street business, including a possible sale. The retailer – which operates around 500 high street stores in the UK – said that it has become focused on its global travel arm, with 85% of its trading profit coming from this division.
However, WHSmith said there can be no certainty that any agreement will be reached, and that further updates will be provided as and when appropriate.