Doug Putman launching home retailer in former Bed Bath & Beyond, buybuy BABY stores

Canadian retail sector investor Doug Putman is opening a new home store retailer in 21 former Bed Bath & Beyond and buybuy BABY locations across Canada.

Putman, known for buying struggling retailers like Toys "R" Us and HMV, said in a press release Wednesday he’s launching a store called rooms + spaces, hiring 500 associates with more positions on the way. 

The new company will be led by Greg Dyer, former general manager of Bed Bath & Beyond Canada, which was granted an initial order for creditor protection earlier this year, with its U.S. parent company following suit in April. 

Putman's firm Putman Investments Inc. is acquiring leases totalling more than 800,000 square feet.