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Apex distribution arm goes into receivership. (News).

Music Week

| August 02, 2003 | Williams, Paul | COPYRIGHT 2003 UBM Information Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

The tough trading conditions have claimed another music business victim, with Apex Entertainment Group and its sales and marketing outfit Independent Distribution Limited (IDL) going into liquidation.

As well as IDL, Apex Entertainment Group's other sister companies Apex Retail Services and Hoodlife Records are also in receivership.

Neither IDL chairman Harry Maloney nor managing director Nigel Reveler were available for comment and the company is now in the hands of business recovery and insolvency operation Leonard Curtis.

A spokesman for Leonard Curtis confirms that partner Keith Goodman is being appointed as joint administrative receiver of IDL and that none of the Apex businesses is able to continue as going concerns.

He says it will be split up and the assets sold off over the next couple of months. ...

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