The sale is the latest episode in the long decline of the Albany-based Trans World. Built from a single record store in Glens Falls in the early 1970s, it rose to $1 billion in sales at more than 1,100 stores. Then the internet came along.
Trans World Entertainment (Nasdaq – TWMC, “TWEC” or the “Company”) announced today that at a special shareholders meeting held on February 17, 2020 more than two-thirds of the Company’s shareholders approved the previously-announced sale of substantially all of the assets constituting its For Your Entertainment (“FYE”) segment to a subsidiary of Sunrise Records and Entertainment Ltd. (“Sunrise”), the parent of Sunrise Records in Canada and HMV Records in the United Kingdom, for $10 million in cash, subject to a net inventory and other adjustments, plus the assumption of certain liabilities (the “Transaction”). The closing of the Transaction is subject to the satisfaction or waiver of customary closing conditions set forth in the purchase agreement, including the receipt of certain third party consents which are expected shortly.
ALBANY, N.Y., Dec. 17, 2019 -- Trans World Entertainment Corporation (Nasdaq: TWMC) today reported financial results for its third quarter ended November 2, 2019. Third.
Companies in the news are: AAL, HZO, CTXS, TWMC
Trans World's proposed $10 million sale of the FYE retail chain rests in part on a vote by its shareholders. They now face a choice of two options — and both may result in the end of the company.
Trans World Entertainment (Nasdaq – TWMC, “TWEC” or the “Company”) announced today it has secured additional financing for its wholly owned subsidiary etailz, Inc. (“etailz”) from investors led by Alimco Financial Corporation (“Alimco”). Together with the previously announced credit facility, etailz now has over $30 million in committed new financing. In connection with the financing, Tom Simpson and Jonathan Marcus will join a reconstituted board of directors.
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ALBANY, N.Y., Jan. 23, 2020 -- Trans World Entertainment (Nasdaq – TWMC, “TWEC” or the “Company”) a leading specialty retailer of entertainment and pop culture merchandise with.
Trans World Entertainment Corporation (TWMC) today announced that Kunal Chopra has been named Chief Executive Officer of etailz, reporting directly to Mike Feurer, Chief Executive Officer of Trans World Entertainment, the parent company of etailz. In his new role, Mr. Chopra will be responsible for the operations and performance of etailz, a leading digital marketplace retailer.
Trans World's board of directors approved selling the FYE business for $10 million to Sunrise Records and Entertainment Ltd. of Canada, but the deal needs the approval of at least two-thirds of shareholders.
After exploring strategic alternatives, the board of Trans World Entertainment Corporation (NASDAQ: TWMC ) announced Thursday an agreement to sell most of the assets of its Record Town subsidiary to Sunrise ...
Trans World Entertainment (Nasdaq – TWMC, “TWEC” or the “Company”) announced today that it has closed the previously-announced sale of substantially all of the assets constituting its For Your Entertainment (“FYE”) segment to a subsidiary of Sunrise Records and Entertainment Ltd. (“Sunrise”), the parent of Sunrise Records in Canada and HMV Records in the United Kingdom, for $10 million in cash, subject to net inventory and other adjustments, plus the assumption of certain liabilities (the “Transaction”). The Transaction was unanimously approved by the Company’s board of directors on January 23, 2020, and was approved by more than two-thirds of the Company’s shareholders at a special shareholders meeting held on February 17, 2020.
Q2 2019 Trans World Entertainment Corp Earnings Call
Q1 2019 Trans World Entertainment Corp Earnings Call
Trans World Entertainment Corporation (TWMC) announced today that it will host a teleconference call for members of the financial community on Thursday, August 29, 2019 at 10:00 AM ET to discuss its press release regarding its Second Quarter results, which will be issued on the same day before the market opens. This call will be simultaneously webcast at the Company’s website, www.twec.com. Trans World Entertainment is a unique omni-channel retailer coupling a long history of specialty retail experience with digital marketplace expertise. For over 40 years, the company has operated as a leading specialty retailer of entertainment and pop culture merchandise with stores in the United States and Puerto Rico, primarily under the name FYE for your entertainment and on the web at www.fye.com and www.secondspin.com. In October 2016, the company acquired etailz, Inc., a leading digital marketplace expert retailer, operating both domestically and internationally.
“The sale of our FYE segment has put our stores and employees in the best position to continue forward and build upon an almost 50 year legacy,” said CEO Michael Feurer in a statement.
The decision ends local control of a business that started in the Albany area in 1973 with a single record store and grew into a chain with more than $1 billion in sales — until the internet, iPhone and music streaming services decimated its economic model.
Trans World Entertainment (Nasdaq – TWMC, “TWEC” or the “Company”) a leading specialty retailer of entertainment and pop culture merchandise with stores in the United States and Puerto Rico, primarily under the name fye, for your entertainment, and on the web at www.fye.com and www.secondspin.com, announced today that it has filed with the U.S. Securities and Exchange Commission (“SEC”) its definitive proxy statement in connection with the Company's previously announced agreement to sell substantially all of the assets of the Company’s fye segment to a subsidiary of Sunrise Records and Entertainment Ltd. (the “Transaction”). The definitive proxy statement is available on the Investors section of the Company’s website, www.twec.com, as well as www.sec.gov, and, commencing on or about February 7, 2020, will be sent to all TWEC stockholders entitled to vote at the special stockholders meeting scheduled to take place on Monday, February 17, 2020, at 10:00 a.m. ET at Trans World Entertainment Corporation, 38 Corporate Circle, Albany, NY 12203.
ALBANY, N.Y., Aug. 29, 2019 -- Trans World Entertainment Corporation (Nasdaq: TWMC) today reported financial results for its second quarter ended August 3, 2019. “In the.