[1] Camelot specialized in the sales of prerecorded music, especially vinyl LP, 45-rpm records, cassette tapes, CDs, and video/music accessories.
In January 2020, Ancaster, ON-based Sunrise Records announced and subsequently finalized their purchase of the 206 store FYE music retailer from Trans World Entertainment for $10 million.
Doug Putman,[5] the owner and CEO of the Canadian company stated he plans to continue the FYE name for the present US stores.
[6] Furthermore, Camelot entered a corporate agreement to buy some of the holdings of Wee Three Records, a UK-owned chain that had gone bankrupt - specifically, six additional stores and the inventory from several more outlets.
By mid 1996, as a consequence of the changing nature of work alongside Investcorp's leveraged buyout of Camelot Inc from David the company found itself closing a number of its stores, laying off staff and eventually leading to filing a Chapter 11 Bankruptcy Protection Agreement.
Higgins was responsible for the creating the FYE brand as well as maintaining its profitability and therefore its status as the last remaining music chain store.
[26][27][28] Paul David was one of thirteen siblings born to an immigrant Lebanese family and worked initially as a sales representative.
At 70 years of age in 1993, David sold his company to Investcorp and established the Paul & Carol Foundation with his wife, which has since provided scholarship opportunities to over 300 high school students.