Best Buy founder mulls bid to take retailer private -- report #RolandJones @msnbc_business @resilient_ent #PrivateEquity

Richard Schulze, founder of Best Buy, is reportedly considering a bid to take the troubled electronics retailer private. Schulze has started working with bankers from Credit Suisse to consider his move, according to a report in the New York Times, and he will probably team up with a private equity firm or another well-off investor, the report said.

The 71-year-old Schulze resigned from the company’s board this month after an internal investigation found he failed to inform the board about allegations that the then-CEO Brian Dunn, who resigned in April, was having an inappropriate relationship with a female employee. Schulze is Best Buy’s largest shareholder with a 20.1 percent stake.

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