Fall out continues as Tower goes liquidated.
The layoffs have begun at Tower Records. Executive VP Kevin Cassidy, the widely respected company official who many considered to be the public face of the chain, left the company today (Oct. 10), noting in an e-mail to co-workers and industry friends that this date marks 19 years to the day when he first joined the West Sacramento, Calif.-based chain.
Billboard.biz reported last week that Great American had won the rights to purchase the chain, following a 30-hour auction. The winning bid was $134.3 million.