Trans World to Buy Sam Goody, Suncoast
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Trans World Entertainment Corp. won the bidding for 345 Sam Goody and Suncoast stores owned by Musicland Holding Corp. with a $104-million offer made last month.
Musicland received no other bids, prompting it to cancel a planned auction. Musicland and Trans World, owner of Coconuts and Wherehouse music stores, will ask U.S. Bankruptcy Court Judge Stuart Bernstein in New York to approve the deal today.
The Musicland stores are in New York, New Jersey, California and other states. Musicland will close its remaining 55 outlets.
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