Tower Auction Today. TransWorld And Radius Seen As Top Bidders
It’s looking more and more like the Tower auction will come down to Trans World Entertainment or Chicago-based equity firm Radius, which includes former Warner Bros. and DreamWorks exec Michael Ostin and Chic’s Nile Rodgers, who owns indie Sumthing Distribution. Odds are the chain will either be acquired by Trans World or liquidated and sold off in pieces at the auction, which will take place in Delaware. Industry insiders hope that long-shot Radius can conclude the deal because Tower would “lose the special characteristics that make the chain unique” if taken over by Trans World.