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Merch Company SCP Owes Millions

Discussion in 'Article Discussion' started by Melody Bot, Jan 2, 2024.

  1. Melody Bot Jan 2, 2024
    Melody Bot

    Your friendly little forum bot. Staff Member

    This article has been imported from chorus.fm for discussion. All of the forum rules still apply.

    Chris Eggertsen, writing for Billboard:

    Illinois-based merch company SCP owes more than $4 million to over 300 clients including Mitski and Brent Faiyaz after abruptly shutting down operations last week, according to internal documents obtained by Billboard. And with plans to file for chapter 7 bankruptcy on Friday, it’s unlikely those clients will ever recover all the money they’re owed.

    Some of SCP’s other clients included Father John Misty, Chappell Roan, T-Pain, Finneas, Brand New and Carly Rae Jepsen; record labels Loma Vista Recordings and Triple Crown Records; Pharrell Williams‘ Something in the Water music festival; and online content creators such as the Dungeons & Daddies podcast and YouTubers Team Edge.

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  2. GageStillAlive Jan 2, 2024
    GageStillAlive

    Still Alive Supply Co. Supporter

    This story keeps getting crazier, I was with everyone else thinking they were killing it because 90% of my merch came from them last year. Hope former employees/bands can bounce back.
     
    Raku likes this.
  3. thatwasamoment Jan 2, 2024
    thatwasamoment

    Since '06

    That's what i was thinking. You got great clients with passionate fans. Revenue must be high. Im thinking they were in over their heads
     
    Raku and mynamesgeneric like this.
  4. sawhney[rusted]2 Jan 2, 2024
    sawhney[rusted]2

    I'll write you into all of my songs Supporter

    Hard to tell without seeing the bones of their financials, but I imagine that they were overleveraged and were unable to meet the bank covenants required for their debts
     
    Raku and elphshelf like this.
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  6. thechetearly Jan 2, 2024
    thechetearly

    Regular

    Genuinely insane.
     
    Raku likes this.
  7. joenicorata Jan 2, 2024
    joenicorata

    Newbie Supporter

    I got a notice on 12/23 from Dashboard Confessional webstore reporting this. Luckily I don't think I have any open orders
     

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  8. Jacob Tender Jan 30, 2024
    Jacob Tender

    Web Guy Supporter