Nu Urban Bankrupt

L

Lurka

New Member
Joined
Jul 25, 2012
Location
Walsall, United Kingdom
So Just saw This taken from Levela's facebook

Ok this will be common news by today so... Nu Urban Music (one of dnb's biggest distributor) has gone bankrupt. Not only does this mean there are A LOT of record labels and artists who will not get paid what they are owed from record sales, Nu Urban are also the only distro that press jump up vinyl so it looks as if that is now dead too :( this may mean nothing to some of you but this is a big shock to many artists. Nu Urban was Multi Function's first distributor and helped the label get to where it is now. Yes I've lost quite a bit of money but oh well, nothing I can do about that. I'd like to publicly thank them for all the advice, help and support I got throughout the first 2 years of my label start up.
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So what are people thinking to this?
good or bad news for the scene in the long run?
 
cant really see how this could be good news in any shape or form? even if you dont like jump up regardless its a massive distributor of dnb, many people will be effected by this, jobs will be lost. how can you say there could be good news?
 
i completely agree the fact that nu urban is bankrupt isnt a good thing, its a big shame that the place i buy alot of my music from is going down.
i was more referring to the state of the jump up scene and how many releases get put out on there that really shouldn't see the light of day.
 
thats pretty shit
but there will still be tons of wank jump up about due to mp3s
 
Lurka said:
i completely agree the fact that nu urban is bankrupt isnt a good thing, its a big shame that the place i buy alot of my music from is going down.
i was more referring to the state of the jump up scene and how many releases get put out on there that really shouldn't see the light of day.
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i dont buy jump up but regardless, less vinyls getting pressed whatever the genre is definitely isnt good, regardless if its shit you aint gotta buy it. Regardless the main shit stuff comes out on mp3 which isnt gonna be much effected by this so all i can see is a big loss even for people that dont buy jump up, and they still sold and distributed all sub-genres of drum and bass
 
Bad news. Nu Urban are legends in the game. Unfortunate their finances didnt reflect that. Wonder what the cause was??

Shame.
 
DJKro said:
cant really see how this could be good news in any shape or form? even if you dont like jump up regardless its a massive distributor of dnb, many people will be effected by this, jobs will be lost. how can you say there could be good news?
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:word:

lets hope that this is the only distributor affected.
 
Lurka said:
i was chatting with a mate who thinks that there will be another distributor that will end up replacing nu urban
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i seriously doubt that mate, i cant see anyone/a company with enough money to pay off nu-urbans debt and try to turn it around to make a profitable company again, its not exactly soemthing an investor would think of putting their money in and it would be a hard task, especially if the other distributors such as ST Holdings are doing well.

Assuming that they are in administration the remaining distributors will be able to buy the stock off nu-nuban for cheap, the administrators will want to get whatever money they can to pay off nu-urbans debt. Then after that i guess its up to the distributors if they want to take up contracts with the labels who were solely working with nu-urban to start pressing their stuff again
 
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DJKro said:
i seriously doubt that mate, i cant see anyone/a company with enough money to pay off nu-urbans debt and try to turn it around to make a profitable company again, its not exactly soemthing an investor would think of putting their money in and it would be a hard task, especially if the other distributors such as ST Holdings are doing well.

Assuming that they are in administration the remaining distributors will be able to buy the stock off nu-nuban for cheap, the administrators will want to get whatever money they can to pay off nu-urbans debt. Then after that i guess its up to the distributors if they want to take up contracts with the labels who were solely working with nu-urban to start pressing their stuff again
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what i meant is that a new or existing company would take the place of nu urban we already have places like red eye.
 
Lurka said:
what i meant is that a new or existing company would take the place of nu urban we already have places like red eye.
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yeah mate most probably, if the lables were still shifting units but not as much as nu urban were pressing i dont see why another company wouldnt take on their contract, cant see why a business would want to turn down more money
 
This is not good. Used to buy a fair few vinyl through Nu Urban when I was buying jump up tunes. Its a shame that things have gone that way. RIP Nu Urban. Was waiting for Turno - Boiling Point on vinyl, but this might not happen now. Hopefully Playaz find a new outlet to distribute their tunes as Hazards new EP has been a long time coming & need that on plastic when it surfaces
 
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