Posted Date: 1/30/2012
FYE Parent Company Closes 52 More Stores
Trans World Entertainment, the parent company of FYE and Suncoast, is closing an additional 52 stores after a drop in sales this past holiday season. Trans World, who has closed more than 550 stores since 2006, will have 390 stores left after this latest round of closings.
According to published reports, the stores are being closed because of poor sales, leases expirations and to improve efficiency. The retailers has seen its sales suffer over the past five years because of the boom in digital music, competition from big-box retailers and the economy.
The closings began in December and will wrap up by the end of February.
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