Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On July 9, 2012, Trans World Entertainment Corporation (the "Company") announced that it had appointed John Anderson as acting Chief Financial Officer and Principal Accounting Officer, effective July 9, 2012.

Mr. Anderson, age 43, has served in positions of increasing responsibility at Trans World for over 18 years, most recently serving as Controller. As acting Chief Financial Officer, Mr. Anderson will lead Trans World Entertainment's financial planning and financial reporting divisions.

In connection with his appointment as the Company's acting Chief Financial Officer, Mr. Anderson will receive an initial base salary of $190,000 per annum. For fiscal year 2012, Mr. Anderson will be eligible for a bonus of between 0% and 50% of his salary depending on the Company achieving certain EBITDA targets. Mr. Anderson will be eligible to participate in the Company's Executive Incentive Program for later years.

Effective on July 9, 2012, Tom Seaver will no longer serve as Chief Financial Officer. Mr. Seaver, age 47, has served as Chief Financial Officer of the Company since November 2011.

On July 9, 2012, the Company issued a press release announcing the appointment of Mr. Anderson as acting Chief Financial Officer and the departure of Mr. Seaver, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. The following exhibits are furnished herewith:

Exhibit No. Description

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99.1 Press Release of Trans World Entertainment Corporation dated July 9, 2012.

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