Late last week, a court-approved the "winding up" of PledgeMusic. It’s the UK equivalent of liquidation to cover debts, and while the few assets still held by PledgeMusic are likely to go for pennies on the dollar, this sale marks the last hope that thousands of artists, labels and fans…
Category archives: crowdfunding. music
Attorney Chris Castle On PledgeMusic, How It Happened and What’s Next [Music Biz Weekly Podcast]
Attorney Chris Castle sits down with Micahel Brandvold and Jay Gilbert on the Music Biz Weekly Podcast to talk about Pledgemusic. Castle offers his insights into when the current debacle started, why it may have happened and what could happen next including bankruptcy and administration. There’s also advice about what…
PledgeMusic Board Says It’s "Continuing To Pursue a Sale"
It has been a little over 5 months since PledgeMusic suspended all campaigns and payments, and two months since FRP Advisory began contacting buyers as part of Pre-Administration, the UK equivalent of bankruptcy. To date, however, no formal filing of Administration has been made. In its first public updated since…