Report: SANCTUARY To Close U.S. Operation

April 4, 2007

Chris M. Walsh of Billboard.com reports that British independent music company Sanctuary Group Plc will shut down its U.S. label this summer, according to a source within the company.

U.K. execs arrived in New York last Thursday (March 29) and alerted staffers the operation would be closing June 30. The company will remain a front-line label in the U.K. with catalog, licensing and an online presence.

The ailing firm had admitted in November 2006 that it was looking to sell parts of its business, including its stake in the independent Rough Trade label.

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