With the news of EUK I thought this was also relevent - One of the biggest suppliers of entertainment products to Independent stores, Multiples and mail order..

 

Pinnacle Entertainment, one of the key distribution companies for independent record labels, has gone into administration.

 

The company's 94 staff are understood to have been been made redundant yesterday (December 3rd).

 

Pinnacle's clients include One Little Indian and Rough Trade records, as well as DVD and other software companies.

 

BDO Stoy Hayward has been brought in to handle the administration.

 

"Unfortunately the company has been affected by the sudden and steep downturn in the UK economy,” the administrator said in a statement.

 

It added it would be working to find a “favourable outcome” for the company.

 

Meanwhile, the Independent labels trade body AIM has called an emergency meeting for today (December 4th) to discuss how the problem will affect other independent labels.

By the time we come out the other side of the recession the music retail and distribution landscape will be vastly changed.

 

Woolies is just the latest in a line of music retailers who’ve gone to the wall over the past few years. I can’t see Zavvi surviving the full course of the depression and we’ll be lucky to still have HMV!

I don't think HMV will go down. But Zavvi is f***ed like you say. Thank god for the internet...

I know Zavvi is in the red, got a friend working for them, and he can see them going under, but I think Richard Branson is trying to buy them back.

I know Zavvi is in the red, got a friend working for them, and he can see them going under, but I think Richard Branson is trying to buy them back.

 

If Branson does buy them back, it will be good to see Virgin megastores back.

we have a member of the green Z here ^_^ We've been getting new stock in throughout the week, Dark Knight, Mamma Mia, Hellboy 2, Peter Kay, Take That, GA, and so on. We were even graced by the presence of Wii Fit :lol: