Higgins himself owns about 40% of the retailer's stock. Anothershareholder, Santa Monica, CA-based Riley Investment Management,which holds just over 9% of the common stock, may join Higgins inthe bid.
By the end of its second quarter, which was completed Aug. 4,Trans World operated 12% less of its total store count from thesame year-ago period, bringing it down to about 950 units. At thebeginning of the year, Higgins said that many of the stores wouldbe under the Musicland banner, a 400-unit chain which it acquiredin 2006.
Trans World is also in the process of rebranding its store baseinto its fye chain. Other chains the company operates includeoconuts Music and Movies, Strawberries Music, Wherehouse, Sam Goodyand Spec's.
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