Cambridge will be among the first 21 Canadian locations of a new home store called Rooms + Spaces, opening this summer to take the place of Bed Bath & Beyond.
Canadian retail investor Doug Putman is stepping into fill the gap left by defunct American home retailer in a move he says "signals optimism for the future of retail in Canada."
Putman, the founder of Ancaster-based Putman Investments, is known for injecting life into struggling retailers like Toys"R"Us and Babies"R"Us Canada, Sunrise Records, and hmv in the UK.
Rooms + spaces, is the latest addition to Putman's retail portfolio.
The stores will carry a broad range of products for every room in the home, from kitchen gadgets and towels to unique items like bed wedges, cherry pitters and charcuterie sets.
Putman Investments is acquiring more than 800,000 square feet of real estate with the acquisition, including the Cambridge location.
The retailer will open locations in BC, Alberta, Saskatchewan, Ontario and Newfoundland and is expected to provide 500 jobs.
The company will be led by Greg Dyer, formerly general manager of Bed Bath & Beyond Canada.
