| News |

The Tower Falleth

This Tower Records--and every one across the country, including the Lemmon Avenue location--is closing shop. So buy now before it's bye-bye.
Keep Dallas Observer Free
I Support
  • Local
  • Community
  • Journalism
  • logo

Support the independent voice of Dallas and help keep the future of Dallas Observer free.

If you were thinking of going record shopping, oh, this weekend, you might wanna stop by Tower Records. Everything's on sale--as in, everything's gotta go because Tower's going, going...gone. Today, a federal bankruptcy judge approved the sale of the California-based company for $134.3 million to Great American Group, a Los Angeles liquidation firm that is selling off the chain beginning tomorrow, word is. At least, that's what it says here: "Peter Gurfein, an attorney representing the 46-year-old chain, said it will be sold for a total of $150 million, including the sale of various leases and properties. Gurfein said Great America plans to begin the liquidation process and going-out-of-business sales Saturday."

A few months ago there was a rumor circulating that Tower's Lemmon Avenue location was going to be taken over by Dean & Deluca, which both parties denied. Tower's local and corporate execs said the company wasn't going anywhere, despite its being declared bankrupt on several locations, and D&D's boss said that while the venerable NYC fine-foodery was looking for a Dallas location, the Tower spot wasn't it. Maybe that changes now, as Tower's gonna be outta Dallas in the time it takes the joint to offload its stock, which was pretty stout during my visit there only last week.

Regardless, with the shuttering of Virgin's Megastore in Mockingbird Station and the closing of Tower, this is excellent news for the homegrown mom-n-poppers such as Good Records and CD World, which no longer have to fend off the chains who claim they were killed by downloaders and discounters such as Wal-Mart and Target.

Tower, incidentally, owes its creditors about $200 million. Which means they're gonna want to sell you a lot of stuff: In Seattle, it says in the loal paper, "all music will be marked down 10 percent, all books 20 percent and all magazines 30 percent." If you don't get deals as good as that here, if not better, well, what are ya gonna do? Not shop there anymore? --Robert Wilonsky

Keep the Dallas Observer Free... Since we started the Dallas Observer, it has been defined as the free, independent voice of Dallas, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Dallas with no paywalls.

We use cookies to collect and analyze information on site performance and usage, and to enhance and customize content and advertisements. By clicking 'X' or continuing to use the site, you agree to allow cookies to be placed. To find out more, visit our cookies policy and our privacy policy.


Join the Observer community and help support independent local journalism in Dallas.


Join the Observer community and help support independent local journalism in Dallas.