PledgeMusic entered liquidation with $7.4 million in debt and assets worth just $20,000, according to court documents obtained by Hypebot. With an “estimated deficiency” of $7,405.502.48 and secured creditor Sword Row, LLC first in line, there is “little prospect” that artists and other creditors will be paid, according to the court-appointed receiver.
Source: PledgeMusic Owes $7.4M Leaving ‘Little Prospect’ That Artists Will Be Paid says UK Court