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Gu bankruptcy rumors spread with xpander.nl artical
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| Tsunami One |
| quote: | Global Underground possibly bankrupt
The rumours were already spreading about Global Underground shutting down. Therefore the following message was found on their messageboard: "The directors of Global Underground have voluntarily appointed administrators to restructure the company and help manage it through the current difficult financial climate that a lot of the industry is suffering. This is to dispel recent message board gossip on the subject"
However, reliable sources tell us that theyve received official notifications from GU that they can no longer pay their invoices. It seems that the existence of one of the most appreciated and followed CD series has come to an end. With the 25th release waiting on the shelves, Global Underground is possibly declared bankrupt. The year 2002 was a bad year for the music industry in general, also for Andy Horsfield and James Todd from GU, who are both known for their luxurious style of living. They really lived and breathed the global underground feeling and enjoyed the maximum out of their lives, but in the end its very strange to see that even one of the most successful mixed dance compilation series is no longer an important part of the scene.
It all began with mixes from Tony de Vit, Nick Warren and Paul Oakenfold. But the series really got world fame when Sasha and Diggers signed for two of the most respected mixes in dance history. Sasha delivered his superb San Francisco edition, while Digweed did his thing on the amazing Sydney GU. Soon followed by the amazing Athens from Danny Tenaglia. Three of the best in the series that started a huge success, followed by 15 other releases from DJs such as Dave Seaman, Deep Dish and Darren Emerson
Global Underground invented a premier league for DJs and told the world who was playing in it. They also told who were soon to be expected on the biggest stages with their Nubreed concept that gave a boost to the careers of Anthony Pappa, Danny Howells, Satoshi Tomiie, Lee Burridge and Steve Lawler, who even got his own Lights out series at GU. Just like Seb Fontaine, who was responsible for four editions of Prototype, a concept that was mend to be innovative, but turned out to be the most commercial sidestep from GU. Their most recent new initiative Afterhours was well received by clubbers worldwide, but unfortunately seems to be an open end. Its not even sure if Nicks 5th GU compilation, #25 in the series, is going to be released. (13/01/03)
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well seems like that it isnt a rumor after all, i dont know how credible xpander is with news?
to be honest Gu has gotten quite repetitive latley and has lacked originality and that "OMG what a mix cd" for a while (besides gu23 which im told is great). 3 years ago it was still on everybodies mind, now when the new gu is coming out now it's "oh gosh not another gu". respekt for what theve done but like alot of others in the scene to much coke has clouded their judgment. |
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| KrinKer |
Does the next Gu with Deep dish will be released ??
I was counting on that one for my bday :(
KrinKer |
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| Spective |
Dont count on the recent one with Nick Warren to be released either. If you were lucky to get the promo, you might be able to make a ton of money in a year or two on Ebay.
For now, the series seems to be shutting down, until they can restructure the company. Bankruptcy doesnt mean a complete shut down. Many successful companies today even, have declared bankruptcy, and then rose back up.
Keep the faith, in the mean time, buy as many GU CDs as you can |
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| KrinKer |
cool
I wanted to get myself the James lavelle one ...
Great time to do it ... if it's gonna be worth a lot of money later :)
KrinKer |
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| Cobalt |
What they should do is stop fracturing into sublabels and stick with the main GU line. GU has become predictible, and they need to get upcoming and obscure artists off of alternate series and onto official GU compilations so that the sound remains fresh and unexpected for listeners.
GU's huge popularity might have been just a bit of disadvantage too, because as we all know the more popular an album is the more likely it can be downloaded for free.
I was about to fork over dollars for an GU 013 anyhow. Perhaps bringing back the big hitters (Warren, Sasha, Diggers) can revive the company. |
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| tranceraver31 |
| i think this was inevitable |
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| Dj_Mario |
| quote: | Originally posted by tranceraver31
i think this was inevitable |
haha turn it up |
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| DJPrototypeX |
| i admit that GU has gotten way too repetitive for awhile now...the highlight of the series for me was James Lavelle...its terrible these guys are gonin out...shows not many people are buyin their stuff...i doubt its dls, cuz the smell of a new GU CD is great:p...well...they had a great run...but hopefully they can pull through this... |
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| TranceGiant |
:confused: :confused: :( :( :(
And a big YOU to the always bitching fools who brainlessly jump on the "ahh...it's gone downhill anyway" bandwagon. |
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| extepan |
this is sad to hear...
hey you people are talk about GU 25...but what is GU 24? i have never seen it in shops
and in my local HMV the GU series are on sale...15 american dollars each for the long deluxe box sets :-> |
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