UB40 Declares Bankruptcy
Wed, 19 Oct 2011 10:27:39
Perhaps they drank too much "Red Red Wine!"
Reggae heroes UB40 have declared bankruptcy. The Daily Mail reports that saxophonist Brian Travers, drummer Jimmy Brown, trumpeter Terence "Astro" Wilson and percussionist Norman Hassan were all "declared insolvent." Ouch. Hard financial times, indeed.
The bulk of the band's debt was accumulated courtesy of the group's former management company Dep International Ltd, which went into insolvent liquidation in April 2008, with liquidators currently entitled to the group's royalty payments. The band is also facing a nearly $100,000 court cost for the case, too.
Longtime lead vocalist Ali Campbell left the group in 2008, along with keyboardist Mickey Virtue. They both complained of financial instability at that time.
Did you used to rock out to UB40's version of "Red Red Wine" in the late 1980s? It reminds me of 8th grade!