KLF chase money ... and McCulloch- Library of Mu

Library of Mu record:
Title: KLF chase money ... and McCulloch
Date: 29 February, 1992
Journal: NME
Author: ?
Type of resource: News items
Status: original
No. views: 4367
Description: KLF have lost money from the Rough Trade collapse, but Drummond vows to sign McCulloch"

KLF chase money ... and McCulloch

By ? (29 February, 1992, NME)

THE KLF, whose "America-What Time Is Love?" 45 is out this week, are rumoured to be $500,000 in the red following last year's collapse of Rough Trade Distribution.

The sum was cited last week as part of a $3 million account frozen by official administrators KPMG, who took over the running of the company nine months ago. The KLF, who are owed for sales of "What Time Is Love", "3 AM Eternal", "Last Train To Trancentral" and "The White Room" are embroiled in a legal battle to secure the money owed to them.

Lacking the finances to take the case to the High Court, it seems likely that they will be forced to accept an out of court settlement, hundreds of thousands of pounds less than the original figure.

Despite The KLF's insolvency, Bill Drummond has vowed to sign former charge IAN McCULLOCH, currently on the east west label. Drummond is concerned about the singer's career; his last single, a cover of Leonard Cohen's "Lover, Lover, Lover", failed to chart.


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