Trans World to repay debt with proceeds from sale of FYE segment

By Sarah Lizee

Olympia, Wash., Jan. 23 – Trans World Entertainment plans to repay outstanding debt using all of the proceeds from the sale of its For Your Entertainment (FYE) segment to a subsidiary of Sunrise Records and Entertainment Ltd. for $10 million, according to a press release.

The transaction is expected to close in the first quarter.

Trans World is an Albany, N.Y.-based retailer of entertainment software products.

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