The highest bidder so far in the auction for Tower Records is offering $90 to $95 million for the beleaguered chain, so reports Musical America.
Great American has so far placed the highest bid, according to Tower. The company specializes in liquidating assets.
I remember when the Tower location in Austin closed back in 2004. I went there hoping to score some discounted goods, and the discounts were still priced higher than I would have gotten from Waterloo, even without my employee discount at the time.
At the same time, it would suck to be in Harmonia Mundi’s shoes. $1.2 million owed and a liquidiation still wouldn’t help? Damn.