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Article: K-tel Closes U.S. Music Distribution Subsidiary; Distribution Subsidiary Files Chapter 7.

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Business Wire
Article date:
March 21, 2001
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Business Editors

MAPLE PLAIN, Minn.--(BUSINESS WIRE)--March 21, 2001

K-tel International, Inc. (OTCBB:KTEL) announced today that its U.S. music distribution subsidiary, K-tel International (USA), Inc. ("K-tel USA"), has ceased operations and filed for protection under Chapter 7 of the Bankruptcy Code in the United States Bankruptcy Court, 4th District, Minneapolis, Minnesota on March 19, 2001. K-tel International, Inc. and its other subsidiaries including Dominion Entertainment, Inc., K-tel Entertainment (UK) Ltd., and K-tel DVD, Inc. continue their operations.

K-tel USA had distributed licensed music mainly to retail record stores. The ...

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