Tower Records On The Ropes

Posted on Aug 15, 2006

Tower Records, overwhelmed with mounting debt, may be on the brink of going under. Recently, all the major labels were forced to stop shipments to the once high-flying retailed due to non-payment. Chief executive Joe D’Amico, recruited to manage the current crisis and possible bankruptcy, appears to have failed in his mission and is now possilby setting the stage for a straight liquidation, depending largely on decision of chief...