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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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