Suncoast Motion Picture Company
 Location at Monmouth Mall, Eatontown, NJ (This location is now permanently closed) | |
| Formerly | Paramount Pictures (1986–1988) |
|---|---|
| Company type | Subsidiary |
| Industry | Retail |
| Founded | 1986 |
| Headquarters | Roseville, Minnesota |
Number of locations | 3 (as of July 2023) |
| Products | Betamax, VHS, Laserdisc, DVD, Blu-ray, CD |
| Parent | Musicland (1986–2006) Trans World Entertainment (2006–2020) FYE (2020–present) |
Suncoast Motion Picture Company (Suncoast) is an American chain of retail stores specializing in new and used physical media, primarily CDs, DVDs, Blu-rays, and vinyl records, as well as collectibles.
Suncoast was initially a subsidiary of Musicland before being purchased by Transworld Entertainment. After the purchase most stores were stocked like its sister chain FYE. Transworld entertainment was purchased by Sunrise Records in 2020 making Suncoast a subsidiary of Sunrise.
History
[edit]The first Suncoast store opened in Roseville, Minnesota, in 1986 as Paramount Pictures. This was a joint venture between the Paramount movie studio and Musicland, which at the time was one of the largest music and video retailers in the United States. Once Paramount pulled out of the joint venture, Musicland changed the store’s name to Suncoast Motion Picture Company in 1988.
In 1999, Musicland launched websites for Suncoast, Sam Goody, Media Play, and Oncue.
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.
In mid-2023, the Suncoast at the Westroad mall in Omaha, Nebraska closed, leaving only two full line Suncoast Motion Picture Company stores opened: one in Beaumont, Texas and the other in Jacksonville, North Carolina. A third, which is a combination of both an FYE and a Suncoast Motion picture company store remains in Beavercreek, Ohio in The Mall at Fairfield Commons.[7]
References
[edit]- ^ Arnold, Thomas; Prange, Stephanie (December 8, 2000). "Best Buy Agrees to Buy Musicland Stores". Los Angeles Times. Retrieved February 3, 2020.
- ^ "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.
- ^ "Sam Goody's parent bankrupt". CNN Money. January 13, 2006. Retrieved February 3, 2020.
- ^ "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.
- ^ "Trans World Entertainment Completes Asset Acquisition of Musicland Holding Corp". Trans World Entertainment Corp. March 29, 2006. Archived from the original on August 11, 2020. Retrieved February 3, 2020.
- ^ "Beavercreek, OH Suncoast | The Mall at Fairfield Commons". mallatfairfieldcommons.com. Retrieved March 1, 2023.