Struggling big-box consumer electronics retailer Best Buy is mulling a sale to private investors, according to a Wall Street Journal report Tuesday. Founder Richard Schulze, who recently resigned as Chairman, is reportedly considering what to do with his 20 percent stake in the company, including the possibility of selling it off, though he would prefer to take the whole company private.
The Minneapolis, Minnesota-based retail giant has had a rough year to say the least, not just in terms of its numbers (first quarter profits declined 26 percent) but also a sex scandal involving former CEO Brian Dunn, who resigned in early April as the company probed allegations of an inappropriate relationship with a female staffer, while other executives departed.
