Business Services Industry
Trans World Entertainment to Buy West Coast Music Chain.
Knight Ridder/Tribune Business News, September, 2003
By Jeremy Boyer, Times Union, Albany, N.Y. Knight Ridder/Tribune Business News
Sep. 17--Trans World Entertainment Corp. will acquire competing retail chain Wherehouse Entertainment Inc., adding to its toehold on the West Coast.
Trans World joined with a group of liquidation firms to make the winning $41 million bid for the Wherehouse assets in a U.S. Bankruptcy Court auction held Friday in Wilmington, Del., where Wherehouse has filed a Chapter 11 petition.
The deal still needs approval in bankruptcy court. A Sept. 29 hearing date has been set.
Trans World's share of the $41 million purchase still is being determined, the company said. But the acquisition, which is expected to close in early October, will add 113 stores to...
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