The 89-store Tower chain -- like nearly every other specialty music retailer -- has experienced big setbacks recently. Just two years ago, the company went through a prepackaged Chapter 11 bankruptcy protection filing...
Tower Records is an anomaly: In an industry almost entirely dominated by mall operations (both specialized entertainment shops and mass merchants), it's the last free-standing deep-catalog chain. Over the course of its 46-year history, it became known as the place to go for the erudite record shopper. In its heyday, it was a pure reflection of the taste and intelligence of its founder Russ Solomon...
Those indie retailers recognized that if Tower goes away -- and that is a distinct possibility -- it will be one more gloomy signal to the American consumer, who knows the Tower brand better than any competing retail logo, that the music business as we know it is over. And that's bad news for everybody... ...Read article here...
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