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Article: Trans World Entertainment Obtains Court Approval for the Asset Acquisition Of Wherehouse Entertainment, Inc. CD World Acquisition Also Approved by U.S. Bankruptcy Court.
- Article from:
- PR Newswire
- Article date:
- September 30, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ALBANY, N.Y., Sept. 30 /PRNewswire/ -- Trans World Entertainment Corporation , a leading retailer of entertainment products, today announced that the U.S. Bankruptcy Court for the District of Delaware has approved the Company's bid to acquire substantially all of the assets of Wherehouse Entertainment, Inc. The transaction is scheduled to close on October 2, 2003 and represents total consideration of $35.6 million in cash and $5 million in assumed liabilities.
Wherehouse, currently operating in Chapter 11 bankruptcy, owns and operates 145 specialty music retail stores located primarily in the western United States. Trans World expects to retain 111 of ...