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From the current issue of RS:
Tower Records, the forty-six-year-old music chain that helped invent the modern entertainment megastore, is in such deep debt that it can't afford to stock new CDs in its eighty-nine stores. Sources say Tower, which underwent a Chapter 11 bankruptcy restructuring in 2004, owes the four major record labels "in the multimillions" of dollars - and the labels have refused to supply the chain with music since early August.
The indies aren't sending them anything either. I went there on Wednesday to pick up Mountain Goats, Eric Bachmann, Cursive, Headlights, Ratatat, What Made Milwaukee Famous and the Broadcast b-sides comp and they had zilch. Oh, but they did have plenty Outkast, so this kibosh does not apply to blockbuster artists apparently. Guess my trips to Amoeba in SF will become more frequent.
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