Best Buy Founder and former Chairman Richard Schulze is not expected to present a buyout offer for the struggling chain, but I still believe that the company may explore a private buyout option. I discuss why in the latest edition of Retail Rap.
Without question, Best Buy is facing some significant challenges. But, that’s been the case for some time now. Not much has changed today from three months ago. Yet, a spotlight is on them now, with talks about this possible buyout. The whole issue of downsizing has been out there since they announced earlier this year their plans to close 50 stores by the end of 2012. The resignation of CEO Brian Dunn and a $1.7 billion loss last quarter have only added to the impression that the electronics giant is on shaky ground.
Check out the full article from my recurring column, Retail Rap, at Chain Store Age.