FYE bites the dust in Coralville

The  F.Y.E. store at Coral Ridge Mall closed Sunday as downloads and movies-by-mail continued to cut into its business.

F.Y.E. (For Your Entertainment) is a division of Trans World Entertainment, based in Albany, N.Y.  It sells CDs, DVDs, video games, software and other products.

Trans World announced plans in November to close 125 stores, eliminating about 650 positions from its work force.

Sales in retail stores owned by Trans World Entertainment declined 10 percent  in the 11-month period ended Jan. 2 the year-earlier 11-month period, according to a on Jan. 6. released by the company.

The company's stock traded Monday at $1.33, and company president Jim Litwak resigned effective Tuesday.

Trans World got its start in 1972 as Record Town, and consolidated its mall stores under the FYE brand in 1972.

The stores being closed employed an average of five.