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TRANS WORLD GETS USED

Music Retailer Enters Used CD Market With $5 Million Investment In SecondSpin
Music retailer Trans World Entertainment has moved into the used CD market, which has been revitalized lately by investors and other traditional retailers.

Trans World took a majority stake in used CD retailer SecondSpin.com, with plans to use a centralized pricing system developed by SecondSpin to begin offering used CDs in most of its own Coconuts Music & Movies locations, according to Webnoize.

With Trans World's $5 million investment this week in SecondSpin, the Denver-based clicks-and-mortar retailer, which has four stores in California and Colorado, will begin a national store expansion. Trans World committed another $10 million in convertible debt to SecondSpin that would raise its ownership stake to 77% at an unspecified date.

For its money, Trans World is getting infrastructure necessary to build a used CD enterprise in some of its stores.

Trans World operates 1,000 stores including both freestanding shops and mall outlets. Its mall locations include Camelot, Record Town, The Wall, Saturday Matinee and F.Y.E. stores.

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