Tower Records Seeks Approval Of Employee Bonus Plan

Law360, New York (November 9, 2006, 12:00 AM EST) -- Despite being in the throes of liquidation, Tower Records Inc. has asked the bankruptcy court overseeing its case to approve a $275,000 bonus package aimed at encouraging employees to stay with the company while it winds down its operations.

The record company said that the program was critical to the completion of its liquidation.

However, not all employees are still welcome at Tower.

On Nov. 2, lawyers for the beleaguered music chain asked a bankruptcy judge to cut ties with founder Russell Solomon, the empire’s head...
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