HMV owner Doug Putman is considering a bid to snap up WHSmith’s unwanted high street stores.
Putman, who rescued the record specialist from bankruptcy in 2019, is understood to be in discussions with WHSmith’s advisors, The Sun reported.
He joins a number a number of suitors eying the retailer’s 500 shops, including Bensons for Beds owner Alteri and Hobbycraft owner Modella Capital.
It is hoped a deal can be reached within three months, sources have reported.
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WHSmith confirmed over the weekend that it “is exploring potential strategic options for this profitable and cash generative part of the Group, including a possible sale.”
“There can be no certainty that any agreement will be reached, and further updates will be provided as and when appropriate,” it added.
It’s not the first time that Putman has taken an interest in acquiring another British high street business, with the Canadian billionaire coming close to rescuing Wilko out of administration when it collapsed in 2023.
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