Trans World Entertainment Corp. Founder Bob Higgins Dies6 Mar, 2017 By: Erik Gruenwedel
Robert Higgins, founder/chairman of Trans World Entertainment Corp., which operates the f.y.e. (For Your Entertainment) retail chain, died March 1. Higgins, who was 75, had reportedly been in poor health.
Higgins got his start as a “rack jobber” stocking music records in supermarkets, and then transitioned to music wholesaler in 1972. A year later Higgins started Record Town in Glens Falls, N.Y. The store expanded into TWEC, which went public in 1989. At its peak, TWEC operated 1,100 stores with annual revenue of $1 billion.
Higgins, who stepped down as CEO in 2014, often characterized f.y.e. as “the last true entertainment retailer standing” on fiscal calls.
CEO Mike Feurer, in a statement, said Higgins’ determination and commitment to excellence would continue to motivate the company as it transitions toward e-commerce with a continued retail presence focused on trend and packaged media.
“All of us at Trans World were deeply saddened by the passing of our founder Bob Higgins. Serving as its relentless champion, Bob was very proud of Trans World Entertainment and all of its associates. On behalf of our board of directors, management team and all of our associates across the country, we mark Bob's passing, mourn his loss, celebrate his renown and extend our deepest sympathies to his wife, Anne, and the entire Higgins family."