Bull Moose sold to its employees
Bull Moose, a mainstay of the state’s music retailing world for more than 30 years, is now employee-owned, the company said in a press release on Tuesday.
The Maine-based music and entertainment channel operates 11 locations in Maine and New Hampshire.
With employee share ownership, often referred to as an employee share ownership plan or ESOP, the employees of a company own company shares or the right to the value of company shares.
Bull Moose has more than 140 employees at its sites, the statement said.
Founder Brett Wickard will remain as Interim CEO and Chairman of the Board during the transition.
Wickard opened the first Bull Moose store in Brunswick in 1989 while a student at Bowdoin College.
In 2013, Wickard launched Fieldstack, a retail software company that, according to the Fieldstack website, grew out of its work to grow the chain in an evolving industry.
All Bull Moose locations were closed at 6 p.m. Monday for a company-wide meeting.
Bull Moose closed its Portland site in November 2020, citing an expiring lease and little foot traffic.
This story will be updated.
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