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Trans World to Acquire Assets of Bankrupt Musicland Retail Chain

Authored by Mark Hefflinger on February 21, 2006 - 6:48am.
Albany, N.Y. - Trans World Entertainment, a music retailer whose stores include FYE, Wherehouse, Strawberries and Coconuts, announced on Tuesday that it has bid to acquire the assets of bankrupt music retailer Musicland Holding Corp., including its Sam Goody and Suncoast Motion Picture Company stores. Musicland filed for Ch. 11 bankruptcy protection in January, after seeing its revenues drop 42% between 1999 and 2005. The purchase agreement is subject to a competitive bidding process and bankruptcy court approval. "We believe that the acquisition of Musicland's assets will allow us to leverage their store locations, strategically increase Trans World's national footprint, and will provide further growth opportunities," said Trans World chairman and CEO Robert J. Higgins. Trans World currently operates nearly 800 retail stores in 46 states.
tags: Music | Retail | Bankrupt | Musicland | Trans World |

PassAlong Networks to Power Digital Music Store for Musicland

Authored by Mark Hefflinger on November 16, 2005 - 4:32am.
Franklin, Tenn. - PassAlong Networks, a provider of branded digital music download services, announced on Wednesday that it has signed an agreement with music retain chain Musicland -- which includes Sam Goody, Media Play and Suncoast Motion Picture Company stores -- to power its GrazeMusic.com online store. Tennessee-based PassAlong Networks will provide over one million tracks from major and independent labels for sale, as well as provide incentives for customers who pass purchased songs on via e-mail or instant messenger.
tags: PassAlong | Musicland | Digital Music |