Better redeem any Tower Records gift certificates you have soon, because the company has filed for Chapter 11 bankruptcy for the second time in recent years. And what's more, many people have been speculating about its chances for survival, since various labels have stopped sending product because Tower hasn't been paying its bills. Huh, is that why we've been having trouble locating certain products, or is the BBC deluxe DVD of Pride & Prejudice just always sold out? Various publications have suggested that Trans World Entertainment, which owns the f.y.e. stores, Sam Goody, Coconuts, and Suncoast may buy Tower.
The Reuters article pointed out that while the Tower location in LA is a landmark, it's not the draw it once used to be. Which makes the question, can a brick-and-mortar chain store like Tower survive in this era of iTunes and Amazon - and even other broader retailers like Wal-Mart and Best Buy encroaching? Maybe it's lack of cafe and "hang out" space that makes Tower locations seem emptier (don't the Virgin Megastores always seem busier in comparison?). Perhaps the future is in having signings, performances and events, like a gang of actors dressed as Romans delivering the season one DVD of HBO's Rome for a publicity splash.
