Canadian serial entrepreneur Doug Putman is creating and installing a new home store brand in 21 Canadian stores formerly occupied by now-bankrupt Bed Bath & Beyond (Union, N.J.). rooms + spaces will open its first locations across Canada this summer in former Bed Bath and Beyond and buybuy BABY storefronts.
In a separate announcement, conglomerate Canada Tire (Toronto) said it is acquiring 10 leases formerly held by Bed Bath & Beyond in Canada to expand its Mark’s and Pro Hockey Life (PHL) brands by six and four locales, respectively.
Putnam’s new chain “will cater to the modern shopper who is looking to create spaces throughout their home that reflect their unique personality and style,” the company said in a news release. “From essentials such as kitchen gadgets and luxurious towels to unique items like bed wedges, cherry pitters and charcuterie sets, the stores will have everything needed to transform a space, whether it be a house, apartment or cottage, into a home.”
Putman’s previous efforts include buying and transforming several high-profile brands, including Toys”R”Us and Babies”R”Us Canada, Sunrise Records, hmv in the U.K, and FYE in the U.S. His portfolio also includes Alex Brands and T. Kettle.
“With so many empty storefronts across the country right now, Canadians are craving enjoyable in-store shopping experiences, where they can see and touch products, especially when it comes to outfitting a home,” he says. “I see such a strong opportunity to invest in Canadian retail and I’m always looking for new opportunities. The creation of a new home brand was a natural addition to my retail portfolio, which now provides shoppers with everything they need across the baby, toy and home categories.”
The company will be led by Greg Dyer, formerly General Manager of Bed Bath & Beyond Canada.