Doug Putnam, the owner of Canada’s Sunrise Records, is certainly ambitious. After buying the leases of more than 70 HMV stores across Canada and re-launching them as new-concept Sunrise locations, he scooped up all the holdings of HMV UK. Late has year, he opened a giant superstore in Birmingham, the biggest HMV ever.
There have been a few hiccups along the way. A couple of under-performing stores have been close both in Canada and Britain. But that’s the normal course of business.
Doug’s made another move. He’s acquired For Your Entertainment, which is described in the press release as “the leading U.S. entertainment retail and e-commerce business.”
Sunrise will now take over 205 retail outlets across the States which employ about 2500 people. If you’ve traveled America, you might recognize names such as Suncoast and Sam Goody, both of FYE. There are dozens and dozens of standalone FYE stores, too.
A quick look at FYE’s website makes it obvious that it fits perfectly with what Sunrise is currently doing in Canada and with HMV in the UK.