Tower Records will close all of its 89 stores after the music retailer's assets were sold at auction on Friday (Oct. 6). Great American Group, a Los Angeles-based liquidation firm, placed the winning bid of $134.3 million. Liquidation sales are already underway. The chain was founded in 1960 in Sacramento, Calif., and declared bankruptcy in August. The two stores in Nashville (on West End Avenue and at Opry Mills mall) often hosted in-store performances and album signings for local and national country and bluegrass artists.