The Albany New York-based Trans World Entertainment, which operates the Suncoast and F.Y.E (For Your Entertainment) retail chains, has announced that it will allow its shareholders rights plan to expire.  Shareholders rights plans, which are also known as “poison pills” are created to thwart hostile takeover attempts by allowing shareholders other than the hostile bidder to acquire more shares and diluting the value of the bidder’s stake (see “Burkle Fighting B&N’s Poison Pill” for another example of this tactic). 

According to Home Media Magazine, TWE, which closed 157 stores last year and approximately 18 in the first quarter of 2010, plans to close more underperforming stores this year.  The company reported a loss of $11.4 million for the most recent quarter (ended on May 1), an improvement from the loss of $13.7 million for the same period in 2009.

TWE remains an important venue for anime (and to a lesser extent manga and graphic novel) sales (see “Steve Panicca of Trans World Entertainment”).