in 1967. Since 1981, it has been engaged in the operation of retail stores which sell prerecorded music, videos, and related products (the "Retail Business") in the Southeastern part of the United States under the name "PEACHES". Such business is operated by its subsidiary, Peaches Entertainment Corporation ("PEC"), a Florida corporation. URT and certain of its directors and officers own approximately 94% of PEC's issued and outstanding shares of common stock and all of its issued and outstanding shares of preferred stock. The remaining 6% of PEC's common stock is owned by non-affiliated persons.