Trans World Entertainment to Sell FYE Segment; shares +180%

Trans World Entertainment (TWMC +177.9%) has entered into a definitive Asset Purchase Agreement with a subsidiary of Sunrise Records and Entertainment Ltd., to sell substantially all of the assets of the Company’s wholly owned subsidiary, Record Town, Inc., for $10M in cash.

The Transaction is expected to close in the Q120, subject to the satisfaction or waiver of customary closing conditions.

Following the closing, the Company plans to focus on the operation of its wholly owned subsidiary, etailz, Inc.


Leave a Reply