NEW YORK (Reuters) - Best Buy Co Inc founder Richard Schulze is working with Credit Suisse to explore options for his 20.1 percent ownership stake in the company, including the possibility of a buyout, sources familiar with the situation said.

Schulze resigned from the retailer's board earlier this month and said he was exploring options for his ownership stake, a move that was seen as a possible precursor of a Schulze-led private takeover.

A representative for Schulze was not immediately available for comment. Credit Suisse declined to comment.

(Reporting By Nadia Damouni; Editing by Gary Hill)