Original
Tower Records Hopes Holidays Will Save It
Tower Records, the storied 1960s music chain that launched the music megastore and became a cultural retailing icon, strolls into its 43rd holiday shopping season this weekend struggling with debt and on the ropes. The West Sacramento, Calif.-based Tower hopes four weeks of strong sales will reverse a new image as the tottering giant inside a stumbling music industry. Among the chain’s troubles: deep-discounting rivals, changing consumer habits, lack of hits and its own missteps in the 1990s as the music business began a dramatic shift. Tower exemplifies the even deeper woes in a recording industry beset by piracy, computer… Read more »