£250,000 relief fund set up for labels affected by Sony warehouse fire

The Association of Independent Music thank donators for 'unfettered support'

£250,000 relief fund set up for labels affected by Sony warehouse fire

Photo: PA

A £250,000 relief fund has been set up to help independent record labels affected by the Sony DADC warehouse fire.

Trade body AIM (the Association of Independent Music) has teamed up with distributor PIAS to marshall the offers of support offered from various sources around the world, in the wake of Monday night's (August 8) events.

Labels affected by the fire will be able to draw upon the fund to help cover the interruption to their business and the cost of getting back onto their feet. The money will be available in the form of interest- and security-free loans repayable within a year.

It had been feared that in the wake of the lost stock and the time it will take to process insurance claims, many smaller labels could go out of business. An initial fund of donations totals £250,000, and anyone wishing to contribute can find details at MusicIndie.com.

Alison Wenham, chair of AIM, said:

The independents will survive this disaster, as they have survived other business challenges. We represent a community which has mutual respect for the work of all indie labels, be they large or small, and the industry needs to nurture and protect these small companies in times like this. We wish to thank everyone in the community for their generous and unfettered support.



Martin Mills, chair of the Beggars Group of labels, added:

Larger labels are much better resourced to weather this storm – but small and new labels are the future and need support from their peers to see them through this crisis.





How the fire affects the music industry

How you can help independent labels affected by the warehouse fire

Read More On This Artist

More News
Noel Gallagher reveals that he is already halfway through making new solo album
Noel Gallagher, Alt-J and Portishead to headline Latitude 2015
Carly Rae Jepsen releases new single 'I Really Like You' - listen
Marilyn Manson joins Smashing Pumpkins onstage in Sydney - watch
Suge Knight taken to hospital for third time after firing his lawyers
Wu-Tang Clan's secret album 'Once Upon A Time In Shaolin' could go on sale in 88...
Drenge stream new track 'Never Awake' - listen
Kanye West premieres studio version of 'All Day' - listen
M83 and Haim team up for new song 'Holes In The Sky' - listen
Prince William helps name Jessie Ware's puppy
Kasabian, Calvin Harris, Sam Smith and more announced for V Festival 2015
Björk's next video to be available on virtual reality platform Oculus Rift
Kanye West tells Oxford University audience: 'If I can remove my ego, there's hope for...
Slaves announce UK headline tour
Jimmy Page ramps up feud over Robbie Williams' home renovations
David Beckham agrees to appear in Noel Gallagher's next music video
Mumford & Sons announce details of new album 'Wilder Mind', plus UK live date
Pussy Riot reveal new song and appear in new episode of 'House of Cards'
Glastonbury 2015: Emily Eavis says neither Coldplay nor Florence + The Machine are headlining
The Libertines to play Lollapalooza Berlin 2015
Pantera say they are 'disgusted' by vandalism of Dimebag Darrell's grave
Garbage to celebrate 20 years of debut album with Paris and London gigs

More News

Comments

Please login to add your comment.

Latest Tickets - Booking Now
 
Know Your NME
 

 
NME Store & Framed Prints
Inside NME.COM