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Fall of Tower?
08/07/06
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(TuneLab) Digital sales are up. Retail record stores sales are down and Tower Records has been one of the hardest hit. The LA Times is reporting that Universal Music, Warner Music, Sony BMG and EMI have stopped all shipments of albums to Tower stores around the country due to unpaid bills. The news comes after Tower appointed Joseph D'Amico, who has been described as a "crisis management and bankruptcy specialist", as its new CEO.

Tower has also reportedly told the labels that they would not be paying outstanding invoices. [see full story for more] - Click here for the Full Story

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