February 22, 2009

Touch and Go Records implementing cuts

Touch and Go Records is stopping all record production and distribution from 23 of its labels, with the Chicago company's founder blaming the troubled economy.

The current state of the economy has reached the point where we can no longer afford to maintain a multi-faceted record label, Touch and Go founder Corey Rusk told the Chicago Tribune.

Since being founded by Rusk in his bedroom during the early 1980s, Touch and Go has been credited with the release of more than 400 albums, the newspaper noted Sunday.

Thrill Jockey Records founder Bettina Richards said Rusk and his Chicago company served as a source of inspiration for many other smaller record labels attempting to make it in the U.S. record industry.

Corey created the blueprint for labels like mine, created the system many of us use, Richards told the Tribune.