The Spectacular Rise And Fall Of Tower Records

By 1999, Tower was operating more than 150 stores in almost two-dozen countries, generating annual revenues of a billion dollars. But in 2004, the company was forced into bankruptcy, a victim of its own unchecked appetite for expansion, cutthroat competition from consumer-electronics retailers, tone-deaf marketing decisions on the part of the record industry, and viral file-sharing applications like Napster. Two years later, in 2006, Tower’s assets were unceremoniously liquidated.