Canadian magnate Douglas Putman who has made several bids to towards saving Wilko has thrown his hat into the ring with a last-minute bid to save the beleaguered retail giant. This unexpected proposal by Putman could potentially salvage 350 Wilko stores, its branding and safeguard the livelihoods of around 10,000 employees, a move that employee unions are advocating for.

But who is Douglas Putman, the mastermind behind this rescue endeavour?

Born in 1984 in Ancaster, Ontario, Putman is a Canadian business virtuoso, touted as a billionaire extraordinaire. His empire includes Canada's largest toy mecca, Toys "R" Us Canada, along with Babies "R" Us Canada, music sensation Sunrise Records, the aromatic haven T. Kettle, chic space curators Rooms + Spaces, the melodious FYE music retailer, Everest Toys, and the resurgent HMV UK, among others.

Putman's reputation as a saviour of retail establishments precedes him. In 2017, he swooped in to acquire the lease agreements for HMV Canada when it found itself in receivership. That marked the beginning of Sunrise Records' nationwide expansion, giving a new lease of life to what is now known as Sunrise Records.

In 2019, Putman's Sunrise Records undertook the triumphant acquisition of HMV UK, saving a whopping 100 stores and 1,600 jobs, and ensuring that the iconic HMV brand would continue to serenade the British high streets.

His appetite for rejuvenating iconic brands didn't stop there. In 2021, Putman, through his investment vehicle Putman Investments, embraced Toys "R" Us Canada into his portfolio, sealing his legacy as a guardian of cherished retail names. And in a stunning move in 2023, he transformed 21 Bed Bath & Beyond locations in Canada into the charming Rooms + Spaces.

But the spotlight is now on Putman's audacious bid for Wilko.

The initial proposal was met with a cold shoulder, but he has risen to the challenge and submitted an improved offer. Putman's track record of rescuing HMV from the brink and steering it back to profitability has lent credibility to his efforts. If successful, his plan promises to maintain the Wilko brand across its store network.

However, the path is not without hurdles. Putman's previous offers struggled to match the financial gains promised by liquidation. Wilko's major creditor is the restructuring expert Hilco, which advanced a £40 million loan just before the company's downturn. Union leaders are urging that employee interests be given priority in the resolution.

As talks continue between Putman and Wilko's administrators, time is of the essence. If Putman doesn't emerge victorious, the spectre of store closures looms large, affecting thousands of jobs.

Putman's daring bid has thrust him back into the spotlight, his business acumen and flair for rescuing iconic brands being tested once again. The fate of Wilko hangs in the balance, with the hope that Putman's Midas touch could prove instrumental in shaping its future.

Amidst Wilko's financial struggles, Putman's bid holds the promise of stability and hope. However, the plot thickens with the revelation of discussions with rival retailers. Names like Poundland, Home Bargains, Primark, and B&M are reportedly in the mix, each eyeing Wilko's stores as potential conquests. The prospect of the Wilko brand being absorbed and reshaped by these players creates a dynamic backdrop against which Putman's bid unfolds.

As the discussions continue, the spotlight remains fixed on Douglas Putman's bid to save Wilko. The outcome will not only shape the fate of a retail giant but also determine Putman's position in this saga of business intrigue. As the clock ticks and negotiations unfold, the tale of Wilko's rescue is far from over,