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Business News Labels & Publishers
Pinnacle administrators correspond over returning stock
By CMU Editorial | Published on Thursday 15 January 2009
The administrators winding up defunct music distributor Pinnacle have set a deadline of 28 Jan for labels to advise on how they wish their stock to be dealt with.
As much previously reported, hundreds of labels have CDs sitting in Pinnacle warehouses and have been getting increasingly frustrated about the delays in getting said stock back.
In a letter, administrators BDO Stoy Hayward have said all labels must let them know by 28 Jan what they want done with any CDs in Pinnacle’s sheds, otherwise said CDs will be sold or destroyed.
The letter also sets out a procedure for getting their CDs back including, presumably, the fact the labels have to pay 6p for each CD returned to them.
