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Bankruptcy and liquidation
- Tower Records is an international retail franchise and online music store that was formerly based in Sacramento, California, United States. From 1960 until 2006, Tower operated retail stores in the United States, which closed when Tower Records filed for bankruptcy and liquidation.
en.wikipedia.org/wiki/Tower_Records
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As of November 2020, Tower Records re-opened their online store with a new website, once again selling vinyl records among other merchandise, which also features an online version of Pulse that is updated regularly.
In 1998, Tower Records took on a $110 million loan to finance the global expansion, a move that triggered trouble. In the perfect storm that followed, the world of course turned to the superior sound of compact discs, creating just one technology-driven hurdle to overcome.
Oct 20, 2015 · But in 2006, Tower declared bankruptcy. Ed Christman has been reporting on music retailers for Billboard magazine for 26 years. "It took eight or nine years to unfold," Christman says. "The...
Nov 14, 2020 · Tower Records, the beloved music chain that shuttered all of its U.S. physical locations 14 years ago, has been revived as an online store.
Nov 13, 2020 · Tower Records, which closed its stores 14 years ago and declared bankruptcy, today announced it has come back as an online service.
Mar 22, 2021 · For many years, nothing much happened with Tower, as people were getting their music from iTunes and then Spotify. But then an opportunity seemed to arrive: the unexpected comeback of vinyl...
May 15, 2023 · But the good news is that TowerRecords.com re-emerged later in 2020 as an e-commerce operation, preceded by an Instagram presence providing music trivia that garnered scores of fans and potential record buyers.
