Resurrected: Record dealer rises again under another name
mainCodaex UK, the major distributor of small labels that went down in the bankruptcy of its Belgian parent company, is back in business as New Arts International.
Joy for the minnows.
UPDATE: And more of the same from Spain. Diverdi went into liquidation around the same time as Codaex. The people behind it have set up a new venture, Semele. It’s springtime in October…
This does not sound promising.
The parent company of Codaex UK (Codaex in Belgium) owes many independent labels a LOT of money. We’re talking thousands of pounds.
However those sales were made by Codaex UK: does Codaex UK have no accountability?
Codaex Belgium’s associated partners (Codaex UK, Codaex Germany, Codaex France, etc) just blame the whole thing on Codaex Belgium…and ignore their debts. They have signed up under the brand “New Arts International” and try to pretend that everything is ok.
They even have the gall to ask the same independent labels they shafted to work with them anew! This kind of behavior is shameful and I hope that the independent labels don’t stand for it.
I hope Mr Lebrecht will make this information public so that an honest debate can take place in a public forum read by music professionals.