how many more mos/weeks of TOWER

[chewy-chew-chew-bean-benitez]

they hired homeless guys to stand w/ big signs on sticks on street corners a few blks from the stores--- but they say only 30% off right now? well do you guys know how much longer we have w/ tower, down that the deal is done and stuff, etc? whens the 50% sale, 80? etc

[BERIGAN]

they hired homeless guys to stand w/ big signs on sticks on street corners a few blks from the stores--- but they say only 30% off right now? well do you guys know how much longer we have w/ tower, down that the deal is done and stuff, etc? whens the 50% sale, 80? etc

95% off everything tomorrow, but you have to be there at 6 am.

[J Larsen]

They want to shut down the stores within 6 weeks. I imagine they want to shut down the larger stores with higher rents and more workers more quickly.

[kh1958]

The signs said 30% off last weekend, but it was actually only 30% off of magazines.

[J Larsen]

Have to remember to pick up this month's Wire there tonight (if they still have it).

[chewy-chew-chew-bean-benitez]

r u nutz?! 6 weeks??!? well will tehre even be 80% off or will they just sell at the stuff back to the distribution to make money back. this is out of control. i would buy some stuff if i didnt have to shell out for the who, roger waters, and bobby d- tmw, thurs, and fri!!!!

[Tjazz]

It's 10% off of CDs now.

I assume it would increase by 10% each week.

So, 5 weeks, till the 50% off sales.

[Edward]

They want to shut down the stores within 6 weeks. I imagine they want to shut down the larger stores with higher rents and more workers more quickly.

Six weeks only gets us to Thanksgiving. I by no means doubt you, but I do doubt the veracity of your source.

Autumn/early winter is an ideal time to conduct a liquidation. People's wallets are typically much looser during the holiday season, so a liquidator does not have to make drastic cuts as quickly as at other times of the year.

I certainly could be wrong, but I would be surprised, then, to see anything greater than 30% off until Thanksgiving weekend. Perhaps the week before Christmas we will finally see 50% off, with deeper cuts coming thereafter.

As already noted, there are costs (rent, payroll, etc.) associated with keeping the stores open and running, but I think that increased holiday profits will more than offset these burdens. Great American is in prime position to maximize the amount realized from this liquidation.

[Stefan Wood]

It isn't about profits. Nor the Christmas season. It is about closing down these stores. They won't restock stuff -- once it's gone, bye bye.

[Edward]

It isn't about profits. Nor the Christmas season. It is about closing down these stores. They won't restock stuff -- once it's gone, bye bye.

It is all about obtaining as much from the liquidation as possible (taking into consideration all of the expenses of running a going concern), and Great Western will probably be able to achieve greater profits because of the holidays.

I think that a lot of consumers who would only be willing to purchase a particular CD at a 40% discount during the majority of the year would be willing to purchase the same CD at only a 30% discount during the holiday season. Moreover, there are a lot of shoppers who buy all or most of the CD's (usually as gifts) that they buy at Christmas time. To these people, 30% off may sound like a great deal. Most of us who frequent this board, however, realize that, with a little research, a 30% discount (or greater) may be obtained on most CD's from several online retailers at various times over the course of the year.

As I stated before, Great Western may see things differently. We shall see what happens.

Edited October 12, 2006 by Edward

[Edward]

All right, I spoke with a friend (the "classical guy") at my local Tower, and he told me that a Great Western representative has indicated to Tower staff that most liquidations have taken them from 8 to 12 weeks to complete. Eight weeks takes us into December; twelve weeks takes us into January.

So, I guess that my projections noted above were WAY off. It looks as though the liquidation could easily be completed by Christmas, although it is clear that not all stores will be closed on the same date.

Also, I was told that sale prices on certain items (I don't know which ones) are expected to be increased to 20% to 30% off by week's end.

[Soulstation1]

Does this mean you'll make finally good on my money jungle cd at 80% off??

[chitownjazz]

All right, I spoke with a friend (the "classical guy") at my local Tower, and he told me that a Great Western representative has indicated to Tower staff that most liquidations have taken them from 8 to 12 weeks to complete. Eight weeks takes us into December; twelve weeks takes us into January.

So, I guess that my projections noted above were WAY off. It looks as though the liquidation could easily be completed by Christmas, although it is clear that not all stores will be closed on the same date.

Also, I was told that sale prices on certain items (I don't know which ones) are expected to be increased to 20% to 30% off by week's end.

I just dropped by the one on Wabash Ave in downtown Chicago to check on progress. 30% off most stuff, 25% off box sets. There was a lot less activity than when the sale first started and a lot of "product" left on the shelves.

Anyone have any other Tower sale checkups to report?

[chitownjazz]

Oh, they also had sale notices on at least some of the fixtures if anyone's thinking about opening a CD store to try to fill the void.

[J Larsen]

All right, I spoke with a friend (the "classical guy") at my local Tower, and he told me that a Great Western representative has indicated to Tower staff that most liquidations have taken them from 8 to 12 weeks to complete. Eight weeks takes us into December; twelve weeks takes us into January.

So, I guess that my projections noted above were WAY off. It looks as though the liquidation could easily be completed by Christmas, although it is clear that not all stores will be closed on the same date.

Also, I was told that sale prices on certain items (I don't know which ones) are expected to be increased to 20% to 30% off by week's end.

I just dropped by the one on Wabash Ave in downtown Chicago to check on progress. 30% off most stuff, 25% off box sets. There was a lot less activity than when the sale first started and a lot of "product" left on the shelves.

Anyone have any other Tower sale checkups to report?

There is almost nothing worth looking at in the 4th & BWay store anymore. As I originally suspected, it looks like they are trying to shut this one down quicker than the others due to the monstrous rent. I get the feeling that they must be moving product from this store to others, because based on my observation it doesn't look like consumer activity alone can be depleting the shelves at this rate.

[kh1958]

The Dallas Tower remains pretty well stocked. They are at 30% off for CDs at present. I couldn't resist the new Sonny Stitt Bebop Recordings box set from Concord for just over $19, as well as the Lenny Bruce box set.

[BruceH]

When will they offer the Val Lewton box for 50% off or more...oh right, never.

Sorry to see Tower go, though.

[PHILLYQ]

All right, I spoke with a friend (the "classical guy") at my local Tower, and he told me that a Great Western representative has indicated to Tower staff that most liquidations have taken them from 8 to 12 weeks to complete. Eight weeks takes us into December; twelve weeks takes us into January.

So, I guess that my projections noted above were WAY off. It looks as though the liquidation could easily be completed by Christmas, although it is clear that not all stores will be closed on the same date.

Also, I was told that sale prices on certain items (I don't know which ones) are expected to be increased to 20% to 30% off by week's end.

I just dropped by the one on Wabash Ave in downtown Chicago to check on progress. 30% off most stuff, 25% off box sets. There was a lot less activity than when the sale first started and a lot of "product" left on the shelves.

Anyone have any other Tower sale checkups to report?

There is almost nothing worth looking at in the 4th & BWay store anymore. As I originally suspected, it looks like they are trying to shut this one down quicker than the others due to the monstrous rent. I get the feeling that they must be moving product from this store to others, because based on my observation it doesn't look like consumer activity alone can be depleting the shelves at this rate.

I went to W 4th Street today also, and there's very little left. The folks behind the counter were talking about mid-December as a shut down time...

[7/4]

I haven't been there in years, but I do like looking at the Going Out of Business signs as I walk by.

BTW: DMG and J&R seem like the best places in NYC now.

[Chuck Nessa]

As someone benefiting from good/great retail stores, we should all stop and thank Russ Solomon for his creation of the Tower stores. They were good for consumers, artists and labels.

For the most part, those days are gone and we all lose as a result.

Thanks to Russ, Marvin Saines, etc.

[7/4]

long gone.

[J Larsen]

I haven't been there in years, but I do like looking at the Going Out of Business signs as I walk by.

BTW: DMG and J&R seem like the best places in NYC now.

I agree on J&R. I have problems with DMG that do not relate to the quality of their stock, with is beyond reproach.

[7/4]

I haven't been there in years, but I do like looking at the Going Out of Business signs as I walk by.

BTW: DMG and J&R seem like the best places in NYC now.

I agree on J&R. I have problems with DMG that do not relate to the quality of their stock, with is beyond reproach.

Is it a CD-R issue?

[J Larsen]

No, it's more of a price/attitude/treatment of staff issue. One guy there is cool, the other isn't. Don't really want to say more in public.

[J Larsen]

That being said, there is, as you point out, a cd-r issue, but that doesn't bother me quite as much as it probably should. I guess I'm just a jaded New Yorker in that way. I'd never buy that stuff, but it doesn't surprise me or particularly put me off that it is there.