Sunrise Records boss Doug Putman joins battle for HMV

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HMV Sunrise Records
// Canadian retailer Sunrise Records among those interested in HMV
// HMV went into administration just after Christmas

Sunrise Records president Doug Putman is interested in acquiring HMV, as the Canadian joins the battle for the entertainment retailer amid reports that Sports Direct tycoon Mike Ashley is one of the suitors.

Sunrise Records, a music retailer which uses Fleetwood Mac albums to explain its business model, previously took over around 70 HMV stores in Canada after it collapsed there in early 2017.

It remains uncertain as to how many of HMV’s 125 stores would be saved under Putman’s ownership.

Last month, Ashley emerged as one of the suitors looking to buy HMV out of administration, which could ultimately result in him adding the iconic British retailer to his empire that currently includes Sports Direct, House of Fraser, Evans Cycles and most recently, Sofa.com.

HMV’s parent company Hilco called in administrators from accountancy firm KPMG on December 28 after the retailer suffered from falling DVD and CD sales amid the rise of popular streaming networks and uncertainty surrounding Brexit.

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