Sanctuary Warns Of Big Losses

Sanctuary Records, the home of Morrissey, The Strokes, Groove Armada and Beyonce amongst others, has announced an expected big trading loss to the stock market.

The label – the world’s largest independent music group, and noted for providing a home to ageing stars – stated they expect to register a pre-tax loss of between £17 to £22 million this year.

Following the statement, share prices tumbled in the company, which had to undergo a rescue package in January following Chief Executive Andy Taylor sacking after mistakes were discovered in Sanctuary’s financial statements.

Maybe Sanctuary's roster could organise a fundraiser gig?