SPV Records Filing For Bankruptcy

Headline News

SPV Records Filing For Bankruptcy

posted May 28, 2009 at 1:38 PM by Diamond Oz. (32 Comments)

In a shocking revelation, SPV Records has reportedly filed for the USA equivalent to Chapter 11 bankruptcy protection. A statement from Annihilator mainman Jeff Waters reads as follows:

"SPV Records has reportedly submitted an application to commence insolvency proceedings on May 25th. I wish them all the best and they have given us metal fans some great releases for a long time.

"The good news is that I signed a deal with SPV, only a few weeks ago, releasing Annihilator from their contractual commitments to SPV, in return for a Live DVD that we shot last summer in the Czech Republic.

"SPV will be releasing the DVD soon (and it rocks; co-headlining in front of 30,000 metal maniacs!) but Annihilator are now free from the label and negotiating with others to release the new and finished 13th studio release. Updates coming at annihilatormetal.com."

Managing partner Manfred Schütz filed for the application on May 25th. He has assured everyone however that business will carry on as usual. The plan is to try and help secure as many jobs as possible and to continue to be a safe home for metal acts.

What's Next?

Please share this article if you found it interesting.

32 Comments on "SPV Records Filing For Bankruptcy"

Post your comments and discuss the article below! (no login required)

Member

1. wilco writes:

sucks
the got some good bands on there label
wonder who will take all the bands over

# May 28, 2009 @ 4:24 PM ET | IP Logged

Member

2. bbristowe writes:

Sweet new annihilator.

# May 28, 2009 @ 6:59 PM ET | IP Logged

Member

3. That_One_Guy writes:

I'm confused. They're bankrupt but they're going to keep going?

# May 28, 2009 @ 8:07 PM ET | IP Logged

Writer / Reviewer

4. InfernoNecrosis writes:

TOG: they're filing for bankruptcy protection.

# May 28, 2009 @ 8:45 PM ET | IP Logged

Reviewer

5. Terminator writes:

I hope its better than 'Metal'. That album sucked hard.

# May 28, 2009 @ 8:46 PM ET | IP Logged

Member

6. bbristowe writes:

Yeah, to be honest, after reading my post I haven't really liked anything since Never, Neverland. Jeff Waters is just a solid dude.

Metal seemed like a quick snatch at fame. Just threw together a bunch of riffs and had guest musicians jump in and do the rest.

# May 29, 2009 @ 1:10 AM ET | IP Logged

Member

7. SHREDDER13 writes:

Annihilator's last worthy album was "Waking The Fury"
Anything beyond that is a big meh...just my 2 cents

\,,l "Ultra-Motion" by Annihilator l,,/

# May 29, 2009 @ 1:46 AM ET | IP Logged

Member

8. BrunoHockalugie writes:

Just think guys, if we keep downloading one day we can force every record label to fold!
Then musicians can never make any money, and the we can all sleep soundly at night.

# May 29, 2009 @ 10:41 AM ET | IP Logged

Member

9. Jamez writes:

Nice one Bruno, LOL. But very much true. I'd say overall the problem with SPV is that they are too much focused on "classic" rock/metal instead of finding and signing anything that sounds like the "new metal" (NOT Nu-metal) like Mastodon, Lamb of God, Children of Bodom etc

# May 29, 2009 @ 11:07 AM ET | IP Logged

10. Bruno Hockalugie writes:

Jamez- I think the overall problem is that kids today feel entitled to have everything for free!
When I was a kid I got one new cassette every 3-4 for weeks and I turned out just fine!

# May 29, 2009 @ 11:24 AM ET | IP Logged

Member

11. Jamez writes:

I see what you're saying, and the worst thing about downloading is that people (kids) dont even think about it these days, They just do it like its just another thing to do. But, I still find quite a lot of people who buy fair amount of albums especially in the metal scene. I thought I was the only moron putting my money on something u can get for free, but no. I prefer to have the real thing, instead of a compressed thin rattling mp3

# May 29, 2009 @ 11:31 AM ET | IP Logged

Member

12. BrunoHockalugie writes:

Jamez- That is a shame you have been conditioned to feel like a moron when you pay for music.
I thnk it says alot about your generation, and I applaud you for keeping metal alive!

# May 29, 2009 @ 11:51 AM ET | IP Logged

Member

13. Jamez writes:

Bruno, I'm actually 32, and I was being sarcastic (thats the way kids see me. A guy in his 30s paying for music = a moron :)

# May 29, 2009 @ 12:43 PM ET | IP Logged

Member

14. That_One_Guy writes:

Yeah, people think I'm stupid for paying for my music too, but f*** them.

# May 29, 2009 @ 1:35 PM ET | IP Logged

Member

15. IWrestledABearOnce writes:

we will be seeing more of this. from different companies.

# May 29, 2009 @ 2:43 PM ET | IP Logged

Member

16. Jamez writes:

^ Definitely. Sad, but true

# May 29, 2009 @ 2:47 PM ET | IP Logged

17. Bruno Hockalugie writes:

Jamez- My hopes were up that a teenager actually pays for their music. I knew it was too good to be true, LOL! I am 24 myeslf. I still applaud you for keeping meta alive, haha!

# May 29, 2009 @ 2:50 PM ET | IP Logged

Senior News Correspondent

18. Diamond Oz writes:

In regards to the generation downloader thing, I'm 19 and I've never downloaded an album. I like the physical copy in my hand, the artwork, the sleevenotes and and everything inbetween. SPV is one of my favourite labels so I'm really sad to see this. I hope everything works out well for them.

# May 29, 2009 @ 2:51 PM ET | IP Logged

Member

19. deathfreak writes:

Real copies are better. f*** lime wire suport your bands and buy a f***ing album. Besides nothing can beat buying a few cds or records. You play them and read the booklet but thats just me.

# May 29, 2009 @ 8:40 PM ET | IP Logged

Member

20. That_One_Guy writes:

Oz -- Agreed. There are so many great bands on that label. It's a shame.

# May 30, 2009 @ 1:24 PM ET | IP Logged

Senior News Correspondent

21. Diamond Oz writes:

Exactly. I hate it when people say "I'll go see them on tour instead" 'cause they don't realise that it's the label that funds the tour and everything so they need to be doing well in order to help the band. Without that, the bands can't tour as much or whatever.

Plus I like it when CDs have bonus DVDs. Gives me something to watch while I'm eating tea.

# May 30, 2009 @ 7:45 PM ET | IP Logged

Member

22. deathfreak writes:

Ya I like the dvds as well. Especially the live discs. Some times You get patches some times a mini poster. The art work is cool and it just feels great to have a new cd to add to the one you already have. With a mp3 What to you get the song which has crappy quality and aometimes a virus.

# May 30, 2009 @ 9:11 PM ET | IP Logged

Writer / Reviewer

23. InfernoNecrosis writes:

Diamond Oz: You Brits EAT tea, too? We, in crazy ye olde Canadia, assumed you just drank it.

# May 30, 2009 @ 10:40 PM ET | IP Logged

24. That one guy writes:

Oz -- Yeah, I'm a sucker for bonus DVD's.

# May 31, 2009 @ 1:28 AM ET | IP Logged

Senior News Correspondent

25. Diamond Oz writes:

Haha, I was wondering if people would get confused about that. Tea is a term we have for dinner or an evening meal. However I have known people that eat teabags. I don't drink tea so that's hardcore for me haha!

# May 31, 2009 @ 4:45 PM ET | IP Logged

Contributor

26. Fuck_A_Name writes:

^I know a few girls that have eaten a teabag or two.... ;D

Now Playing: Sabbath- NIB

# May 31, 2009 @ 4:50 PM ET | IP Logged

Member

27. IWrestledABearOnce writes:

^lmao

# May 31, 2009 @ 7:23 PM ET | IP Logged

Member

28. That_One_Guy writes:

FAN -- lmao...

# May 31, 2009 @ 10:24 PM ET | IP Logged

Member

29. Jamez writes:

God we're great (you are, that is!) With the imagination you guys have you'd all have a career in Hollywood writing TV serieses. This is a prime example: Going from SPV filing for bankruptcy to eating teabags in 28 messages. Good stuff. I love it!

# Jun 1, 2009 @ 4:57 AM ET | IP Logged

Writer/Reviewer

30. RememberMetal? writes:

SPV distributes Type O, Moonspell, Kreator, Enslaved just off the top of my head....this sucks.

Now Playing: Mastodon - "Hearts Alive"

# Jun 1, 2009 @ 6:13 PM ET | IP Logged

Member

31. wilco writes:

diamond ozz
you are my hero
you are one of the few and me
who do not down load
down loading is killing the music bussniss
like you i like to have it in my hands

are you going to graspop this year

# Jun 2, 2009 @ 6:51 AM ET | IP Logged

Senior Reviewer

32. Progressivity_In_All writes:

That sucks royally, but at least it's not chapter 7, where they'd dissolve. Reformation is good.

But yeah, this is what downloading hurts -- bands that get hardly enough sales to stay afloat anyway and the labels they're signed to. Goddamn Jonas Brothers are raking in money and most major pop/country/rock labels aren't feeling too awful. Meanwhile, the smaller companies who barely make back expenses are being put under.

# Jun 2, 2009 @ 7:37 AM ET | IP Logged

To minimize comment spam/abuse, you cannot post comments on articles over a month old. Please check the sidebar to the right or the related band pages for recent related news articles.

Metal Underground.com