German metal label SPV has released a statement about their insolvency (aka bankruptcy). The label is saying that it’s business as usual, with SPV managing partner Manfred Schutz telling trade magazine MusicWoche “we keep on doing business across all segments of our portfolio.” But while they’re doing that, they’re scrambling for investors.
Edel, Warner Music, Universal, and others have expressed interest in the company in the past, but the label isn’t naming any of the current companies sniffing around the label, which has existed for 25 years. And while their USA offices have been shut down, former SPV product manager Maria Ouellette is still handling some aspects of the U.S. business.
As our buddies at Metal Sucks point out, with the solid roster SPV has, they’ll be able to keep repackaging some of their core bands and albums, but according to the label, they’ll have new albums this year from the likes of Annihilator, Iced Earth, Helloween, and Die Krupps, among others. Whether or not they’ll see the light of day in the States is anyone’s guess, but we hope they’re able to figure it out.