Update: an email sent from ST to its labels today states that the company has has been gone into voluntary liquidation, rather than simply ceasing trading. It reads thus:
Please be advised that Baker Tilly has been instructed to assist with the formalities of placing S T Holdings Ltd into creditors voluntary liquidation. In this regard, a notice of a meeting of creditors will be sent to you shortly.
ST’s labels have been advised to complete a proof of debt form and send to Baker Tilly as soon as possible.
Distribution company ST Holdings will cease trading at the end of the month.
The Bournemouth-based company, which launched in 1998 and became a key distributor for drum’n’bass, dubstep and more, scaled back its operation earlier this year, dropping over 150 of the labels that they distribute.
Owner Andrew Parkinson claimed at the time that “We set out to build something that empowered the underground independent artist and gave them freedom to focus on their art.”
“Things have changed… the ethos is getting lost and STH and its labels are dissatisfied. Personally I do not feel that STHoldings can and should continue on its current path. I have decided to hit the reset button and for STH to return to its roots … Starting today, we are only going to work with a small number of approximately 30 record labels that reflect this ethos.”
FACT can confirm today that ST will stop trading at the end of July, and aim to pay any money owned to labels in early September. Several of the labels that worked with ST, such as Exit and Soul:R, have already set up direct-to-customer webstores.
Prior to this year’s changes, ST Holdings’ roster included Hessle Audio, Swamp81, NonPlus+ and more.