World Serpent, tanked?

"....the UK based cult label World Serpent is to stop all activities. Although the news has not been 'officially' announced by World Serpent word is getting around very fast. Side-Line contacted the label two days ago for comments but no reply came. World Serpent Distribution was formed in the late 80s and was co-owned by David Gibson, Alan Trench and Alison Webster. It began operation by distributing Current 93, Death In June, Nurse With Wound and Sol Invictus. The music press once described Sol as drinking from the same poisoned chalice as C93 and DIJ, and at one time World Serpent was more or less synonymous with this 'apocalyptic folk' genre. Although there are now many more artists, labels and distributors in this field, World Serpent remained for years its pivotal focus. But all this will now come to an end. An artist we contacted regarding the end of the label says: "Events took a major turn last week when we were told that World Serpent would cease trading." The label will remain active until all accountancy is cleared and pending invoices have been paid to and from the label. It is to be believed that the most renown acts will soon find a new label/distributor, but for some of the smaller/lesser known World Serpent artists it may well be the end of their career. In the upcoming days we will already announce the new distributors for bands such as Chris & Cosey and related.