Vinyl Me Please (store, exclusives, swaps, etc)

[grrrace]

I don’t understand how this isn’t fraud at this point on VMP’s part.

Yeah, with Bandbox at least they sent that email before they'd filed an Assignment for the Benefit of Creditors while for VMP they seem to have filed that 3 weeks ago

 

[wmeugene]

Yeah, with Bandbox at least they sent that email before they'd filed an Assignment for the Benefit of Creditors while for VMP they seem to have filed that 3 weeks ago

And then sent a "Don't worry, we're good and will be back to normal in a few weeks"

 

[jamieanderson1968]

“Don’t look at the giant tire fire behind me, look at this pretty, shiny coloured vinyl record instead. Preeeettty”

 

[Mather]

I feel like their epitaph should just read "There had to be a better way..."

 

[Saluki79]

Yes, you’re an unsecured creditor

So does this mean that there's a chance of getting the unshipped April records like they stated in the subscriber email or is it just a stall technique?

 

[Skalap]

So does this mean that there's a chance of getting the unshipped April records like they stated in the subscriber email or is it just a stall technique?

I think they showed that they are people we can rely on. I wouldn't worry at all.

 

[wmeugene]

So does this mean that there's a chance of getting the unshipped April records like they stated in the subscriber email or is it just a stall technique?

Absolutely a stall technique. Now that doesn't mean they won't ship between now and then, but the letter is clear that they intend to go out of business and are trying to survive until October.

 

[Joe Mac]

I feel like their epitaph should just read "There had to be a better way..."

Around your marrow.

 

[Ed Selley]

Stopped doing international subs because they said they were losing money on them.

This amuses me because VMP sent me roughly 100 records for *checks notes* £0 as they just kept me on some sort of comp list and I know of one other UK contributor who was the same so I suspect that the profit and loss of international sales wasn't checked that closely.

 

[folsom_lives]

So this makes like what, five(?) vinyl clubs we have witnessed/documented the collapse of?

 

[serotonein]

The only minor differences are because of the nuances between state laws/courts* but yes, this is the process Bandbox went through to avoid formal bankruptcy proceedings that resulted in VNYL taking control of their remaining assets.

*interesting this LLC was set up in CA. I was able to find Offbeat Venture LLC filings in CO, KS, GA, and DE. I don't know but suspect the other states don't allow this type of "restructuring".

 

[Twentytwo]

I never thought I'd see the day that VMP went belly before Magnolia and other record clubs. Although I will say this, the ones that are still standing are mostly ones who have record labels attached to them and in most cases money making bands on their roster.

 

[MikeH]

I never thought I'd see the day that VMP went belly before Magnolia and other record clubs. Although I will say this, the ones that are still standing are mostly ones who have record labels attached to them and in most cases money making bands on their roster.

yea--you control the licensing, you control everything. not shocked that a sub that has to rely on licensing titles from other labels has to keep raising prices and eventually went under (although that seems mostly due to mismanagement).

VMP was just a case study for most of these huge labels to start their own subscriptions. There are what...4 major labels in the US? Most have their own subscriptions or at least recurring series across various sublabels now after VMP proved viable.

 

[Ginormousthumbs]

 

[Ginormousthumbs]

At this point if y’all aren’t asking for chargebacks, then youse rich.

 

[Skalap]

View attachment 232788

Vinyl Liquidate Me Please

 

[Ginormousthumbs]

Vinyl Liquidate Me Please

Lost Liquidations Found

 

[RHANDMJ]

I don’t understand how this isn’t fraud at this point on VMP’s part.

We don't know.

They may have a viable restructuring plan. Often companies need to take this step to shake the creditors or force them to take a shave.

We also don't know if Matt isn't buying the assets himself, or some proxy.

 

[Skalap]

Absolutely a stall technique. Now that doesn't mean they won't ship between now and then, but the letter is clear that they intend to go out of business and are trying to survive until October.

October? What will they do with more time ?

 

[Dirtbag Auntie]

Ah no man. It’s like a bunch of accountants trying to be fun or weird.

I’m an accountant that is fun and weird. That is ownership/Ops trying to minimize the situation