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Gut lives on as it rises from Phoenix's flame.
The Gut name will live on, after Phoenix Music International bought the assets of the label from administrator BN Jackson Norton.
Phoenix specialises in buying musical rights from companies that have gone into administration or liquidation. Its previous acquisitions include production company Unique Corp and Nineties dance label Neo Records, but Gut is by far its biggest asset to date.
Phoenix Music International director John Carnell says that his company will first sort out various problems with the stricken record label, which went into administration in August, then will "move forward with the rights and artists".
"Generally speaking we are interested in the catalogue," he says. "Obviously with Gut there are a lot of live artists. We are not a record company as such but we will look to move these artists on to other labels ...
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