Business News Digital

Early D2F player MusicToday files for bankruptcy, hopes to find buyer

By | Published on Tuesday 27 September 2016


The operator of MusicToday, the US merch-focused direct-to-fan company, has filed for chapter eleven bankruptcy protection, because that’s what all the cool kids are doing these days.

“This is a very positive development for our company and our customers”, reckons the boss of MusicToday’s parent company Delivery Agent, Mike Fitzsimmons, who sees the bankruptcy process as an opportunity to restructure the company to enable it to move forward.

He continued: “Through these proceedings we’re initiating a process that preserves company value, allows the company to reorganise its business affairs and establishes a necessary foundation for future growth and profitability”.

An early player in the online artist store domain, MusicToday was originally launched by artist manager Coran Capshaw, before becoming a Live Nation business in 2006. Delivery Agent acquired the company from the live music giant two years ago.

Delivery Agent, which also owns a promotional products agency and e-commerce platform ShopTV, says it has secured the required approvals to continue operating as normal during the bankruptcy proceedings, subject to a green light from the courts, and that it hopes to find a buyer for the business.