It’s Official: Tower Records Assets Liquidated

“The disappearance of Tower’s familiar red-and-yellow logo will leave a gaping hole in the landscape of American music retailing. Los Angeles-based Virgin Megastores, which operates 20 Virgin Megastores, now will become the most prominent deep-catalog retailer. One veteran industry observer noted that Tower might have accounted for 40%-50% of some niche-genre labels’ business.”