More retail news, from the US this time. We don't follow US music retail news very closely here in the CMU Daily, but this story seemed quite amusing. Tower Records was announced 'Large Retailer Of The Year' in the awards bit of the annual convention of the US National Association Of Recording Merchandisers this weekend, which was nice. It was also a bit ironic given that much of the rest of the convention was spent discussing reports that the legendary record store chain, which has struggled a lot in recent years, was about to be forced into bankruptcy, reports that have led to most distribution firms stopping supplying the chain with new products. Tower has been up for sale since February and one possible sale reportedly fell through in the last couple of weeks - leading to speculation that a buyer will not be found and winding up will follow.
Aug 7, 2006
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1 min read
Tower Records: best but possibly bankrupt
Tower Records was named Large Retailer of the Year at the NARM convention, amid reports it may be forced into bankruptcy and some distributors have stopped supplying it.