The lead bidder in the court-supervised bankruptcy sale is a Woodland Hills-based liquidating firm called Great American Group. That could signal the closing of Tower Records, as opposed to selling the Sacramento-based chain. Great American is mostly an auctioneer and liquidator, not a retailer. But a story in the Sacramento Bee notes that Great American "has participated in deals that keep companies open for business." And other potential purchasers could outbid Great American at a bankruptcy auction set for Oct. 5. Apparently, Tower was required to pick a lead bidder to meet the terms of an $85 million loan to keep operating. Among those still believed to be interested in buying the company are founder Russ Solomon and Trans World Entertainment Corp. Here's the release.