Suncoast Motion Picture Company
 Location at Monmouth Mall, Eatontown, NJ. | |
| Formerly | Paramount Pictures (1986–1988) |
|---|---|
| Company type | Subsidiary |
| Industry | Retail |
| Founded | 1986 |
| Headquarters | Roseville, Minnesota |
Number of locations | 5 (2020) |
| Products | Betamax, VHS, Laserdisc, DVD, Blu-ray |
| Parent | Musicland (1986–2006) Trans World Entertainment (2006–2020) Sunrise Records (2020-present) |
Suncoast Motion Picture Company is an American chain of retail stores specializing in used and new physical media, primarily CDs, DVDs, Blu-rays, and Vinyl records, as well as collectibles.
Suncoast is a subsidiary of Sunrise Records, but its stores are largely stocked the same as their FYE stores.
History
The first Suncoast store opened in Roseville, Minnesota, in 1986 as Paramount Pictures, changing their name to Suncoast Motion Picture Company in 1988.
In 1999, Musicland launched websites for Suncoast, Sam Goody, and Media Play.
In 2001, Best Buy purchased their then parent-company, Musicland, for $685 million.[1]
In January 2003, Best Buy closed 20 Suncoast stores as part of a larger closing that included 90 Sam Goody stores.[2]
Later that year in June 2003, Sun Capital Partners assumed Musicland's liabilities from Best Buy.[3]
In January 2006, The Musicland Group filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of New York; store closures during the bankruptcy included 80 Suncoast stores [4][5]
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.[6] TWEC retained the Suncoast name on around 170 stores after acquisition.
However on December 26, 2009, they announced the closure of 150 Suncoast stores nationwide.
References
- ^ Arnold, Thomas; Prange, Stephanie (December 8, 2000). "Best Buy Agrees to Buy Musicland Stores". Los Angeles Times. Retrieved February 3, 2020.
{{cite news}}: CS1 maint: url-status (link) - ^ "Best Buy to close 110 Sam Goody, Suncoast stores". Louisville Business First. January 9, 2003.
- ^ "An Affiliate of Sun Capital Acquires Musicland from Best Buy Co., Inc". Business Wire. June 16, 2003. Retrieved February 3, 2020.
{{cite news}}: CS1 maint: url-status (link) - ^ "Sam Goody's parent bankrupt". CNN Money. January 13, 2006. Retrieved February 3, 2020.
{{cite news}}: CS1 maint: url-status (link) - ^ "Musicland Holding Corp. Announces Consolidation of Store Operations to Strengthen Financial Performance; Company Receives Court Approval to Close 341 Stores". Business Wire. February 1, 2006. Retrieved February 3, 2020.
{{cite news}}: CS1 maint: url-status (link) - ^ "Trans World Entertainment Completes Asset Acquisition of Musicland Holding Corp". Trans World Entertainment Corp. March 29, 2006. Retrieved February 3, 2020.
{{cite web}}: CS1 maint: url-status (link)