Fans Lining Up For Tower Records Sale

Law360, New York (September 6, 2006, 12:00 AM EDT) -- At least 12 prospective buyers have bid for Tower Records, the unit of MTS Inc. that declared bankruptcy in August, according to an investment banker for the record store.

The affidavit was filed on Tuesday by Christopher DiMauro of Houlihan Lokey Howard & Zukin, according to news reports. DiMauro said that three would-be buyers have already met with Tower’s management, and that he has been in contact with at least nine more.

The auction for the company is set for October 5.

The music retailer, which...
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