US retailer Best Buy has offloaded its Musicland chain to private investment firm Sun Capital Partners. Musicland generates sales of US$1.7 billion (£1 billion), but reported operating losses last year of US$72 million (£42.7 million).
Sun Capital Partners will take on all the liabilities of Musicland, which has 1,100 stores under the fascias Media Play, Sam Goody and Suncoast.
Bear Stearns analyst Dana Telsey believed the decision would allow Best Buy to concentrate on its core electricals business.
Telsey said Best Buy continued to take share in the electricals market and was well positioned to capitalise on the digital product cycle in the year ahead.
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