The Towering Inferno

It's all my fault:

The parent company of Tower Records, which filed for Chapter 11 bankruptcy protection on Sunday, is seeking to sell its assets through a court-supervised auction Oct. 5.

The company, which operates 89 stores in 20 states and is owned by the privately held MTS Inc., said yesterday that it needed to close the sale by mid-October to prepare for the holiday shopping season, when it has about 32 percent of its annual sales.

Tower said revenue fell to $430 million for the fiscal year ended July 31, from $476.1 million a year earlier. The company said intense competition had hurt its business and that of other music retailers.

Ever since I moved to a location that has no Tower Records, it's been downhill for them. For years I suspect I was keeping first the New York store(s) and then the Torrance, CA, store in business.