Defunct American ecommerce software company
Kaspien Holdings, Inc. (formerlyTrans World Entertainment ) was an American company that provided software and services for ecommerce. Kaspien Holdings operates on Amazon in the United States, Canada, United Kingdom, Spain, France, Italy, Germany, the Netherlands, Sweden, and India, as well as Walmart Marketplace,eBay , Google Shopping, andTarget . Its interim CEO was Goldman Sachs veteran Brock Kowalchuk, who took over March 11, 2022.[ 1]
Trans World Entertainment Corporation [ edit ] Based inAlbany, New York , Trans World was formed in 1972 by Robert Higgins. It opened its first store, Record Town (formerly Record Land), in 1973. The company went public in July 1986 and has expanded through acquisitions of a number of smaller or failing companies including Strawberries, Coconuts,Camelot Music , andWherehouse Entertainment .
On September 23, 2000, Trans World signed a definitive agreement to acquire the assets of WaxWorks, and the deal was expected to close by the end of October.[ 2]
As part of a 2002 settlement with 41states overCD price fixing , Trans World Entertainment, along with retailersMusicland andTower Records , agreed to pay a $3 million fine.[ 3] [ 4]
In February 2006, Trans World acquired theMusicland Group, which owned Musicland, Discount Records,Sam Goody ,Suncoast Motion Picture Company ,Media Play , and On Cue. The buyout included a handful ofOn Cue stores.[ 5]
Trans World operated at a net loss from 2006 to 2010. In fiscal year 2011 it turned a profit of $2.2 million (compared to a $31 million loss in FY 2010). The company closed some locations and increasedmargins on its products.[ 6]
[ edit ] In October 2016, Trans World acquired etailz, Inc, a third-party online retailer, for $76 million.[ 7]
etailz was founded in 2008 by Josh Neblett, Sarah Wollnick (now Sarah Neblett), and Tom Simpson as GreenCupboards and had operated as a niche retailer of eco-friendly products.[ 8] [ 9]
In January 2019, etailz laid off 20 percent of its workforce after Trans World reported a $14 million loss in the third quarter of 2018.[ 10] [ 11] [ 12]
In January 2020, Trans World sold its FYE segment for $10 million to Sunrise Records and Entertainment Ltd., severing its ties to physical retail stores and leaving etailz as its only remaining subsidiary.[ 13]
In March 2020, Trans World reconstituted its board of directors and its CEO stepped down.[ 14]
Sale and rebranding to Kaspien Holdings [ edit ] On September 3, 2020, Trans World Entertainment rebranded to Kaspien Holdings (the name "Trans World Entertainment" was sold toSunrise Records ). Its remaining subsidiary, etailz, also changed their name to Kaspien, merging the two companies and solidifying the focus on ecommerce.[ 15]
In December 2023, Kaspien announced it would wind down operations and permanently shut down on May 1, 2024.[ 16]
Formerly owned chains before sale to Sunrise Records [ edit ] Coconuts Movies & Music :Evansville, Indiana (Formerly nationwide)Sam Goody :St. Clairsville, Ohio andMedford, Oregon (Formerly nationwide)Spec's Music:San Juan, Puerto Rico Suncoast Motion Picture Company :Beaumont, Texas ,Eatontown, New Jersey ,Omaha, Nebraska , andPortland, Oregon . (Formerly nationwide)SecondSpin.com: Online (sold to Sunrise Records in 2020)[ 17] Manifest Discs and Tapes:Charlotte, North Carolina FYE : Nationwide (mall-based and freestanding)[ 17] Camelot Music CD World:New Jersey andMissouri [ 18] [ 19] [ 20] Disc Jockey: Southern U.S. (mall-based)[ 21] [ 22] Incredible Universe , joint venture withTandy Corporation : Nationwide (17 stores; closed in 1996, six stores sold toFry's Electronics ; )Leopold's: California[ 23] [ 24] Media Play : Nationwide (closed in 2006)Music World:New England states On Cue: Nationwide[ 25] [ 26] [ 27] [ 28] Planet Music:Virginia Beach Peaches : NationwideRecord & Tape Traders: Multiple locations inBaltimore area, last location inTowson closed in 2019[ 29] Record Factory: Brisbane, CA[ 30] [ 31] [ 32] [ 33] Record Land: Nationwide (mall-based) Record Town: Nationwide (mall-based) Record World:Mid-Atlantic andNew England states (mall-based) Saturday Matinee: Now only one location atRockaway Townsquare inRockaway, New Jersey ; other locations closed or converted to Suncoast; previously operated inCalifornia ,Colorado ,Connecticut ,Delaware ,Illinois ,Maryland ,Michigan ,New Jersey ,New York ,North Carolina ,Virginia ,Texas ,Mississippi ,Pennsylvania andOhio Spec's Music Inc. :Florida Spin Street: Tennessee (closed 2017)[ 34] Square Circle: Nationwide (mall-based) Strawberries:Texas ,Maryland ,New England andMid-Atlantic states[ 35] [ 36] [ 37] [ 38] [ 39] Streetside Records:Missouri , Midwest[ 40] [ 41] Tape World: Nationwide (mall-based) Vibrations:South Florida The Wall:Mid-Atlantic states[ 42] [ 43] [ 44] Wall To Wall Sound & Video / Listening Booth: Mid-Atlantic states, later converted to The Wall[ 42] [ 45] [ 46] Wherehouse Entertainment :[ 30] Arizona ,California ,Colorado (formerly Rocky Mountain Records),Georgia ,Louisiana ,Missouri ,New Mexico ,Oklahoma ,Oregon ,Texas ,Utah ,Virginia , andWashington ;[ 47] [failed verification filed for bankruptcy in 2003;[ 48] [ 49] [ 50] [ 51] [ 52] ^ "Kaspien Promotes CFO and Goldman Sachs Veteran Brock Kowalchuk to Interim CEO" (Press release).^ "Trans World Invests In Brick-And-Mortar" . Archived fromthe original on 2014-03-18.^ "CD Price Fixing Suit Settled For $143 Million" . Billboard. 2002-10-01. Retrieved2016-04-26 .^ Stephen Labaton (2000-05-11)."5 Music Companies Settle Federal Case On CD Price-Fixing" .The New York Times . Retrieved2016-04-26 . ^ "Trans World Entertainment Completes Asset Acquisition of Musicland Holding Corp" .Trans World Entertainment Corporation . 29 March 2006. Archived fromthe original on 11 August 2020. Retrieved1 February 2020 .^ DeMasi, Michael."FYE owner Trans World reports first fiscal-year profit since 2006" . The Business Review. Retrieved8 May 2012 . ^ Corp, Trans World Entertainment (2016-10-17)."Trans World Entertainment Corporation Announces the Purchase of etailz, Inc., Digital Marketplace Retail Expert" .GlobeNewswire News Room (Press release). Retrieved2020-09-17 . ^ "Green retailer GreenCupboards says sales are on rise > Spokane Journal of Business" .www.spokanejournal.com . Retrieved2020-09-17 .^ "GreenCupboards buys assets of Ecomom after founder's suicide" .GeekWire . 2013-04-24. Retrieved2020-09-17 .^ "Etailz reduces staff following parent company losses | The Spokesman-Review" .www.spokesman.com . Retrieved2020-09-17 .^ "Etailz CEO and co-founder Josh Neblett no longer with company, executive says | The Spokesman-Review" .www.spokesman.com . Retrieved2020-09-17 .^ "Etailz names new CEO > Spokane Journal of Business" .www.spokanejournal.com . Retrieved2020-09-17 .^ Corp, Trans World Entertainment (2020-01-23)."Trans World Entertainment Corporation Announces Agreement to Sell FYE Segment" .GlobeNewswire News Room (Press release). Retrieved2020-09-17 . ^ Corp, Trans World Entertainment (2020-03-31)."Trans World Entertainment Corporation Announces New Financing, Board Changes and Company Refocus" .GlobeNewswire News Room (Press release). Retrieved2020-09-17 . ^ " .PRWeb . Retrieved2020-09-17 .^ Parish, Linn (2023-12-26)."Kaspien to wind down operations" .Spokane Journal of Business . Retrieved2025-02-08 . ^a b "Sunrise Records to Acquire U.S. Entertainment Chain FYE | Exclaim!" .^ "Trans World to buy CD World" .The Business Review ^ Johnson, Greg (September 19, 2003)."Trans World to buy bankrupt CD World" .Daily Deal ^ Kwok, Chern Yeh (July 9, 2002)."Streetside, CD World Will Merge: Record Company's Local Stores Will Operate The Same Way They Have In The Past" .St Louis Post-Dispatch the original HighBeam Research . ^ "Trans World absorbs Disc Jockey music chain" .The Business Review ^ "Trans World Entertainment SEC 10-K Annual Report for Fiscal Year Ending February 3, 2001" .Securities and Exchange Commission . February 3, 2001.^ "Billboard" . Nielsen Business Media, Inc. 1985-09-21.^ "Groovy old 1970 pic of Tower Records, San Francisco, CSN&Y "Déjà Vu "just released, only $2.88!" .^ Christman, Ed (December 28, 2002)."Tower Records' Struggle Reflected Industry's Turmoil" .Billboard ProQuest 227148754 . ^ Tellijohn, Andrew (May 12, 2002)."On Cue brand will become Sam Goody" .Minneapolis St. Paul Business Journal ^ Heller, Laura (April 22, 2002). "Best Buy converts On Cue stores to Sam Goody name".DSN Retailing Today ProQuest 228510993 . ^ Garrity, Brian & Benz, Matthew (April 13, 2002)."On Cue Rebranding As Sam Goody" .Billboard ^ "Record and Tape Traders Towson" .www.facebook.com . Archived fromthe original . Retrieved3 December 2019 .^a b Groves, Martha (1986-06-13)."Record Factory to Sell 23 Stores to Wherehouse" .Los Angeles Times . ^ "Billboard" . Nielsen Business Media, Inc. 1977-11-26.^ "PUBLIC RECORDS DIRECTORY - Sterling Lanier" . Archived fromthe original on 2017-02-15. Retrieved2015-12-30 .^ Billboard - Feb 3, 1979 - Vol. 91, No. 5 "Record Factory's parent company. Mighty Fine Distributing. Brisbane, Calif"^ "Spin Street to close its doors" .WMC 5 Action News . 8 November 2017. Retrieved1 February 2020 .^ "Video Supplier Has New Chief" .New York Times ^ "Partnership Buys Control Of Strawberries Inc" .New York Times ^ "Trans World closes on Strawberries deal" .The Business Review ^ Cuff, Daniel F. (October 25, 1989)."New Strawberries Chief To Expand Music Chain" .New York Times ^ Snow, Anita (August 22, 1989)."Video Company Chief, Wife Found Fatally Shot In Mansion Home" .Associated Press ^ "RIP Streetside Records Delmar" .Playback STL . December 24, 2007. Archived from the original on December 26, 2007.^ Shrubshell, Don (December 6, 2012)."Streetside Records to close next month" .Columbia Daily Tribune the original on April 10, 2013. ^a b Chapman, Francesca (September 23, 1993)."Handwriting On The Wall Wee Three Record Outlet Spinning Into A Bigger Chain" .Philadelphia Daily News the original on September 27, 2013. ^ "Camelot Music Agrees to Purchase The Wall; Camelot Music and WH Smith PLC Announce Signing of Letter of Intent" .PR Newswire the original on March 16, 2016. RetrievedMay 14, 2017 – viaThe Free Library .^ Kasrel, Deni (December 5, 1997)."Bankrupt buyers woo The Wall. (Camelot Music Inc.)" .Philadelphia Business Journal ^ Burke, Richard (July 21, 1990)."Wall To Wall Sound Files Petition For Bankruptcy Relief In Phila" .Philadelphia Inquirer the original on July 11, 2011. ^ Simmons, Sheila (May 16, 1990)."Wall To Wall Stressing Software" .Philadelphia Daily News the original on September 5, 2015. ^ "Articles about Wherehouse by Date - Page 5 - latimes" .Los Angeles Times the original on January 12, 2016. Retrieved7 January 2019 .^ Leeds, Jeff (January 22, 2003)."Wherehouse Files for Chapter 11" .Los Angeles Times ^ "Wherehouse Music stores' parent files for bankruptcy" .St. Louis Business Journal ^ "Court OKs Purchase of Wherehouse Stores" .Los Angeles Times ^ Christman, Ed (October 11, 2003)."TransWorld Trumps Sun Capital In Its Bid For Wherehouse" .Billboard ISSN 0006-2510 – viaGoogle Books . ^ "SecondSpin - Buy and sell used CDs, DVDs, Blu-Ray and Games" . Archived fromthe original on 2022-10-08. Retrieved2017-11-02 .
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