It's sad to read but proves yet again that there are only a few ways to run a successful dance label, and they all seem to involve skirting or going bankrupt at some point.

First - you over-over-overspend on marketing, run up enormous debts and cross fingers you eventually have a big hit. (This carefree approach is increasingly common in clubs as well, where a new breed of promoter has a day job in IT and so pays far less attention to scraping back bits of budget than the traditional promoter. But then the new breed also pays the warmup DJs, which is a nice change.)

Second - create a new label from the ashes of a one that failed already (it overspent on marketing); this lets you take advantage of the money you spent on marketing the first time round.

OK, and third is you do a joint-venture with EMI or Universal. Which gives you the cash to overspend.

Australia's Daily Telegraph on Modular, not obviously written by a financial journalist.