Dub dot dash

Real Groovy relaunch hits bum note with creditors
As featured in the NZ Herald earlier this week, in case you missed it... link
"... The original owners, Chris Hart and Martin O'Donnell, regrouped with a new backer [Ralph Brayham, ex Ferrit, Telecom] under the company name Fonografo Ltd and announced this month that the Auckland store was fully operational again...
... However in the High Court at Auckland yesterday, the original company, Real Groovy Records, was put into liquidation by music distributor Southbound Distribution, which is owed more than $40,000.

Southbound director Jeffrey Stothers believed there were other creditors. He said he had been told that there were no surplus funds available from the sales of the stores to pay unsecured creditors.
Stothers was not against Hart and O'Donnell getting back into business, as the industry needed another record store closure "like a hole in the head", but he objected to it being done at distributors' expense.
Stothers said he outlined his position to Hart at an early stage, telling him Southbound could not keep supplying the store if it wasn't being paid.
"He was fairly indignant, saying he would have to look after the major record companies first and he would see what he could do."