[tweetmeme] [fbshare type=”button”] Many of the UK’s independent rock and metal labels could face financial disaster after rioters in London destroyed a warehouse used as a distribution base for CDs and DVDs.
The building in Enfield, North London, was set it on fire by looters before making their escape during the third night of violence in the English capital.
And while insurance claims may cover some or all of the labels’ losses, many businesses may not be able to survive the loss of cashflow and delays in payments.
Unrest exploded on Saturday in connection with the death of a 29-year-old man in a police shooting incident. Rioting has spread to Birmingham, Liverpool, Nottingham and Bristol.
The Sony DADC warehouse in Enfield partially collapsed a few nights ago, with almost no chance of any stock being recovered.
The head of PIAS Group, one of the UK’s leading independent distributors, who work with acts including Frank Turner and Seasick Steve, says: “I can confirm the warehouse burned to the ground and Sony holds PIAS stock. In terms of the impact to us, the situation remains to be clarified.”
Turner comments: “Oh well, there goes independent labels. Fuck.”
