Dec
4
UK Distributors Pinnacle and Entertainment UK in bankruptcy
Filed Under Distributor News, Music Retail News | Leave a Comment
Two album distributors have met the unfortunate fate of bankruptcy, or administration as it’s called across the pond, over the past few days.
Entertainment UK, a division of Woolworth’s and distributor mainly for major labels, was forced to stop deliveries to stores about a week ago. The news sent retailers Zavvi, Asda, Sainsbury’s, Morrisons and WH Smith, among others, scrambling to get shipments of new releases from Britney Spears, as well as Take That.
Pinnacle, which caters to an independent crowd, met the same fate yesterday. The failure could lead to a ripple effect reaching all the way to big trouble for Pinnacle’s label clients, since they have fewer resources available than the major labels. Precedent can be seen in the closure of 3MV in the UK and Tower Records in the US, which lead to major problems for indie labels in 2004 and 2007, respectively.
Dec
4
Take That
England’s Take That’s latest album, “The Circus”, rocked the music and CD world selling 133,000 copies on it’s first day. They beat out Coldplay’s new album for the biggest single day of the year.
Great news for us CD junkies!
