HMV owner expands store estate with US acquisition

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HMV and Sunrise Records owner Doug Putman has acquired US retailer For Your Entertainment.

Putman has acquired more than 200 For Your Entertainment stores across America, along with its 2,500 employees.

The Canadian businessman, who also owns Sunrise Records, bought struggling HMV out of administration early last year.

The transaction is expected to be finalised during the first quarter this year. As part of the deal, Putman will also acquire the online brands FYE and SecondSpin.

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