Tower Records’ New Lease On Life

Tower Records emerged from bankruptcy court Monday. “Tower leaves bankruptcy protection with a far lighter debt load and a sunnier outlook. The music business seems to be coming back – CD sales nationwide are up 14 percent this year, according to Nielsen/SoundScan market research – and Tower’s revenue has inched up since August, reversing a multiyear decline. Tower says 90 of its 93 stores make money.”