Wherehouse Entertainment
TypePublic
IndustryRetail
Founded1970 (1970)[1]
Defunct2003
FatePurchased by Trans World to be converted to FYE brand
HeadquartersUnited States
ProductsDVDs, compact discs, videos, records, video games, books, collectibles, accessories

Wherehouse Entertainment, also known as Wherehouse Music and The Wherehouse, was an American retail music franchise.[1][2][3][4]

History

In 1983, Wherehouse Entertainment Inc., renamed from Integrity Entertainment Corp., went public with a public offering of 750,000 shares under the symbol WEI. At this time, the company had 126 stores, primarily in California.[5][6] In 1984, the company began renting movies, or "video software" in 77 of its 126 stores, with a roll out into further stores expected.[7] Later that year, a copy of Money Hunt: The Mystery of the Missing Link was sold by a Wherehouse Entertainment at Sunset & Western in Los Angeles to Newt Deiter, who would go on to win the $100,000 cash prize.[8]

In August 1998, Wherehouse purchased Blockbuster Music from Viacom.[9] The company filed for Chapter 11 bankruptcy in 2002. In 2003, Trans World Entertainment purchased the remaining 148 Wherehouse stores for $41 million (~$62.8 million in 2022) in cash and assumed liabilities while closing 35 under-performing stores.[10] It is not clear when Trans World Entertainment closed the remaining stores or converted them to FYE brand.

References

  1. 1 2 Gnerre, Sam (July 9, 2016). "The Daily Breeze's Sam Gnerre looks at the way we were in the South Bay". Daily Breeze.
  2. ↑ "WHEREHOUSE ENTERTAINMENT INC reports earnings for Qtr to Dec 31". The New York Times. February 14, 1984. p. 13.
  3. ↑ Haupt, Wyatt (October 23, 2003). "Wherehouse Music shutting its doors in Temecula". The San Diego Union-Tribune.
  4. ↑ "Music Retailer to Buy Wherehouse's Assets". Associated Press. September 16, 2003.
  5. ↑ "Wherehouse Entertainment Inc". The Daily Breeze. September 11, 1983. Retrieved May 5, 2020.
  6. ↑ "Integrity Entertainment Corp". The Los Angeles Times. September 7, 1983. Retrieved May 5, 2020.
  7. ↑ Sahagun, Louis (March 11, 1984). "Record Retailers Get the Picture, Stock Video". The Los Angeles Times. Retrieved May 5, 2020.
  8. ↑ Rayl, Salley (October 21, 1984). "VIDEO GAME PAYS $100,000 TO 'SLEUTH'". The Los Angeles Times. Retrieved May 5, 2020.
  9. ↑ Willis, Barry (August 16, 1998). "Wherehouse Buys Blockbuster Music for $115 million". Stereophile. Retrieved May 4, 2020.
  10. ↑ "Music Retailer to Buy Wherehouse's Assets". Associated Press. September 16, 2003.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.