Tower Records Liquidated, Stores to Close

The Chicago Sun-Times reports that Tower Records stores are to close, as three thousand employees of Tower Records are to lose their jobs as the company is immediately liquidated. The winning bidder, Great American Group, paid 134.3 million dollars, and about 15 million more were sold off through leases and properties. As of right now, no official word on the Tower Records website. Although the second place bidder, Trans World, appealed, saying they hoped to keep some stores open if they won, GAG won out. The liquidation will take about six weeks, so go pay your respects at your local store and buy some cds at a discount.