A Canadian entrepreneur with a track record of retail turnarounds is launching a chain of tea shops across the U.S. and Canada, out of recently closed DavidsTea locations. But while the carnage is continuing in some sectors of retail, Putman sees an opportunity. In 2014, he purchased music store chain Sunrise Records. In 2017, he bought up the leases of 70 HMV locations across Canada when that chain went bust and converted them to Sunrise locations. And taking over former tea shops is smart because the infrastructure is likely already in place.

Source: CBC News October 28, 2020 17:03 UTC