Suncoast Motion Picture Company
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Suncoast Motion Picture Company is an American chain of retail stores specializing in pre-recorded videos, particularly movies but also carries television series. The stores sell them in the DVD, HD DVD and Blu-ray formats. The store also carry various other items, including movie-related posters, toys, collectibles, Japanese manga, CDs, and snacks such as Pocky and Ramune. Suncoast is a division of Trans World Entertainment.
[edit] History
The first Suncoast store opened in Roseville, Minnesota, in 1986 as Paramount Pictures. In 2007, the Rosedale location closed.
In 1988, the Paramount Pictures stores changed its name to Suncoast Motion Picture Company.
In 1999, Musicland launched websites for Suncoast, Sam Goody, and Media Play.
In 2001, Best Buy purchased Musicland, and in 2003, Sun Capital Partners assumed Musicland's liabilities from Best Buy. It was reported that all Suncoast stores would be closed at the end of 2003, but this did not happen.[citation needed]
In January 2006, The Musicland Group filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of New York due to very poor sales for the 2005 fiscal year.
Trans World agreed to purchase all of Musicland Inc. stores with an agreement that all failing stores with low sales and high shrink be closed and included in the Chapter 11 bankruptcy Fort Gratiot, Lakeside and Eastland were just a few.
In February 2006, Musicland started closing its failing stores just before Trans World Entertainment completed the purchase of all Musicland Inc. stores.
In late March 2006, Trans World Entertainment Corp. completed the purchase of nearly all of the assets of, Musicland Holding Corporation, for $104.2 million in cash and $18.1 million in assumed liabilities. Trans World will retain the Suncoast Motion Picture Co. name on about 170 stores.
In December 2007, Trans World Entertainment Corp. decided to close around 150 stores nationwide many of them were Suncoast Locations.(The closings also included undepreforming FYE's and some remaining Sam Goody locations) .
Their decision to close even some of their most profitable stores leads consumers, and stockholders, to believe that Trans World Entertainment's purchase of Musicland's property was merely to close out their competition.[citation needed]
The remaining Suncoast stores are expected to be renamed as F.Y.E. Movies, which has the highest sales over any other movie or compact disc company, though typically less than 1% of their inventory involves compact disks (which are primarily anime soundtracks and/or used).[citation needed]
