By: Spacelab Research Staff
Rising gas prices. Increased food costs. The danger of a looming worldwide recession. So what are indie labels to do? Consolidate!
Beggars Banquet and Too Pure will be closing down, or rather, absorbed into 4AD as a result of the growing difficulty in surviving in the modern global media climate.
"The official line is that restructuring at parent company Beggars Group, which is also home to XL Recordings, Rough Trade and Mo'Wax amongst others, means that the rosters from Too Pure and Beggars Banquet will be absorbed into 4AD. But whether they'll be equally resourced seems to be in doubt," reads a story in The Guardian.