Wednesday, December 3, 2008

Music Company closings ... (sad times)

Last month Cisco in Japan closed their doors and this week Creative Vibes in Australia and Neuton in Germany are shutting down their operations and Pinnacle in the UK has gone under administration (insolvency, which is similar to bankruptcy/liquidation)

Last year we had the closings of Amato in the UK, Unique in NY, Watts in NY, Syntax in NY and many more.

This economy sucks !!!

In November, Cisco Music (the audiophile label in California) and their parent company, Cisco International, filed for bankruptcy and shut down their business completely. This included all their retail stores throughout Japan, which they shuttered last year, their online store and their vinyl distribution division. Cisco was one of the leading vinyl sources in Japan with many retail stores throughout Tokyo. Their online store was the busiest for vinyl.

Neuton, one of the biggest (vinyl) music distributors, is about to announce its insolvency today. After the collapse of the UK distributor Amato and the Japanese distributor Cisco, the whole vinyl label scene and the distributors put Neuton under extreme pressure. Neuton worked with many top electronic labels, distributing music for diverse labels including Four Twenty, Tresor, Vakant, or Perlon and has worked in the past with labels like Bpitch control, Playhouse, Klang or M_nus.

Australian label and distributor Creative Vibes is calling it a day after nearly 15 years in the business. In a statement, the founders blamed in part competition from vertically-integrated multinationals and the recent massive fall in the Australian dollar for their decision to wind-up.

Pinnacle Entertainment who have been around since 1992 as a leading software, games and music distributor in the UK has gone under administration today.

URP Music Distributors, based in Nashville Tennessee, is still selling loads of vinyl.

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