Though he recently stepped down as the company’s chairman, one of Best Buy’s founders, Richard Schulze, is flirting with the idea of purchasing all outstanding shares and taking the company private.
Best Buy's co-founder is looking to make a buy of his own, offering to take the electronics seller private only months after leaving as the company's chairman following a scandal involving its CEO.
It's the latest twist to the Minneapolis company's struggles to stay relevant as more and more people buy electronics online. Over the past year it has announced a major restructuring plan and fired its CEO. Best Buy is trying to avoid the fate of its rival Circuit City, which went bankrupt in 2009, partly because of changing shopper habits. Continue Reading