In 1999, Tower Records had $1 billion in revenue. They were bankrupt by 2006.
All Things Must Pass: The Rise and Fall of Tower Records is playing now in limited release. My review is at PopMatters:
Nobody who ever went into the original batch of Tower Records outlets in California ever said, “What a beautiful space.” In that way, they were axiomatic of the greatest record stores, which understood space pragmatically, slapping up some posters and cardboard displays, but otherwise committing to the mission. That was, of course, to sell records. This dedication is one way record stores were different from bookstores, which usually tried to give their customers a slapdash kind of ambiance: a few sprung couches, a little café, maybe a calico cat curling around your legs while you browsed in Fiction, A–H…
Here’s the trailer: