Leaning Tower
Tower Records has scratched its last vinyl. In about 6-weeks time, the 46-year old music retailer will be nothing but a memory.
Due to chronic revenue loss, Tower Records auctioned off its assets for $134.3 million to liquidation firm Great American Group. All 89 nationwide retail locations, including its 8 New York stores are having a liquidation sale on all of its products, which will last for about an estimated six weeks, before finally closing...for good.
In an e-mail circulated Friday to Tower's staff, founder and CEO, Russ Solomon said, "The fat lady has sung ... she was way off key. Thank You, Thank You, Thank You."
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