Support for LAist comes from
We Explain L.A.
Stay Connected

Share This


Evening News: Tower Records Doomed? Snakes Rattled by Mother@$#%ing Critics?

Stories like these are only possible with your help!
You have the power to keep local news strong for the coming months. Your financial support today keeps our reporters ready to meet the needs of our city. Thank you for investing in your community.

Grim news about a Southern California staple: Chris Morris, a 103.1 dj, says in the Hollywood Reporter that the nation's largest free-standing record store chain, Tower Records, is in huge financial debt and may not last another year:

The amount of money that Tower owes evidently is staggering. One confidential source familiar with Tower's balance sheet put the company's debt to Warner Music Group's distributor WEA Corp. at $20 million. The same source said that one sizable independent distributor was owed $2 million. With a little extrapolation, it is not difficult to surmise that Tower's current indebtedness may be as high as $100 million.

Most NARM attendees -- a group not known to harbor illusions -- believed that another Tower bankruptcy filing is imminent. Those with the bleakest view maintained that this time around, absent a buyer for the severely leveraged chain, a Chapter 7 liquidation could be in the offing.

French journalist Emmanuelle Richard ,who covers Hollywood for our beret-wearing friends in the EU, complains that the Snakes on a Plane folks might be showing their hand -- that the viral-hyped film isn't so great. Otherwise, why wouldn't they let the critics see the masterpiece? Juliana Margulies plays good cop to Ms. Richard, but Samuel L. Jackson let's it all out:
Support for LAist comes from
"Oh shucks! Are you complaining? It sounds as if somebody is angry because they might have to pay!" (Roars laughing.) "You can have a conversation without seeing the film. It's Snakes on a Plane! What do you think is gonna fucking happen?"
Robin Williams, who has the dubious honor of snorting rails of coke with John Belushi hours before bro took that deadly speedball, entered rehab yesterday after relapsing after 20 years, his publicist says:
After 20 years of sobriety, Robin Williams found himself drinking again and has decided to take proactive measures to deal with this for his own well-being and the well-being of his family. He asks that you respect his and his family's privacy during this time. He looks forward to returning to work this fall to support his upcoming film releases.
photo by Harelquin13 via motherfucking Buzznet