Struggling music and video company Trans World Entertainment Corp., will close its Torrance retail store f.y.e. Jan. 23 bringing an end to three decades of selling records, compact discs and movies at the location at Hawthorne and Sepulveda boulevards.

The building originally was occupied by a Tower Records store that opened in 1986; f.y.e. — shorthand for “for your entertainment” — took over after that retailer filed for bankruptcy in 2006.

Now the Albany, N.Y.-based parent company of f.y.e. is similarly struggling financially in an age of Internet competition. It posted a net loss of $4.3 million for the third quarter that ended Oct. 31, only slightly better than the $4.5 million loss it sustained in the same quarter the previous year.

Company officials didn’t return messages left seeking comment, but CD and DVD sales have dropped precipitously in recent years as consumers turn to online streaming, Netflix and the like.

“Bummer,” said 61-year-old Hawthorne resident Randy, who declined to provide his last name as he walked in the store Friday to look for classic rock CDs in a storewide 30-percent-off sale.

“I don’t have a computer at home so I don’t buy things online,” he added. “I don’t know what the future holds for brick-and-mortar stores.”

Trans World Entertainment Corp. has more than 300 stores and is trying to remake them into entertainment- and pop culture-oriented outlets rather than simply a music and video retailer.

Its Torrance store was virtually the last chain store of its type in the city.

Trans World, which began as Record Town in 1972, has gobbled up a variety of once familiar names to mall shoppers over the years, including Camelot Music, Wherehouse, Musicland and Sam Goody.

All have now vanished.

From 2007 to 2011, the company closed more than 250 underperforming locations.

The company shuttered its Hawthorne Boulevard Wherehouse location about a year ago as well as a Suncoast Motion Picture Co. outlet in Del Amo Fashion Center. That store sold DVDs.

The Book-Off USA outlet that remains in Del Amo and sells most DVDs and CDs for less than $5 each benefited from Suncoast’s closure and will likely do so again once f.y.e. shutters, said store supervisor Veronica Grindle.

“Our business is going a little bit better since Suncoast closed just down the hall,” she said. “We still get people who bring up a $2 DVD (to the counter) and complain that it’s too much. I think we’re going to do a lot better now because no one wants to buy a DVD for $20 anymore.

Well, virtually no one.

“I wish we had more DVD stores because we can’t get DVDs every place any more,” complained 78-year-old Ginger Thompson of Harbor City as she headed out of f.y.e. Friday clutching a bag of Hallmark movies.

“I’m old-fashioned, but that’s the way I am,” she added with a chuckle. “I will miss it because they have things no one else has sometimes. But I don’t come here on a monthly basis, just once in a while. Tower I would come every couple of weeks because they always had something new. This place is hit and miss.”