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Best Buy Founder Weighs Buyout

Best Buy Co. BBY +4.44% founder Richard Schulze is working with a Wall Street bank to explore taking the electronics retailer private, according to people familiar with his thinking, the latest twist in a tumultuous year at the company.

Mr. Schulze, the retailer’s largest shareholder with a slightly more than 20% stake, abruptly resigned his post as chairman and a director of the Richfield, Minn., company earlier this month, saying he was pondering options for his shares.

People familiar with Mr. Schulze’s thinking say he wants to preserve the value of his holdings, which he fears will continue to decline unless major changes are made at the company.”

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