Published Apr 29, 2008In a sudden blow to independent music everywhere, the influential labels Beggars Banquet and Too Pure announced today that they will be closing their doors. The closures comes as part of a new restructuring plan adopted by the Beggars Group, the UK collective that until today housed such labels as Rough Trade, XL Recordings, 4AD, Too Pure and Beggars Banquet.
But as sad as it to hear that these two musical institutions will be no more, the Beggars Group plan does come with a silver lining. According to reports by several British news outlets, the acts currently signed to Too Pure and Beggars Banquet, such as the National, Stereolab, Scout Niblett and St. Vincent, will be heading over to 4AD in efforts to pool resources and expand operations there.
Too Pure was formed in London, England, in 1990 by Richard Roberts and Paul Cox, and was the main launching pad for such as PJ Harvey and Stereolab, among others. As for Beggars Banquet, the UK label was founded by record shop owners Martin Mills and Nick Austin back in 1977. During its life, it has been home to such highly acclaimed acts as the Fall, the Go-Betweens, Gary Numan, Bauhaus/Love and Rockets and Tindersticks.