Results 1 to 3 of 3
  1. #1
    Merchant & ABW Ambassador
    Join Date
    May 31st, 2006
    Location
    Houston TX
    Posts
    4,731
    Music123 goes bankrupt
    FYI

    I wanted to inform about what's been going on here at Music123. If you haven't caught the news of late, Music123 / Woodwind & Brasswind filled for Chapter 11 bankruptcy the end of November and entered into what is called a 363 Sale Process. The 363 Sale process is a well accepted sale process designed to maximize the value of Music123 for the benefit of its customers, employees, creditors and shareholders.

    Music123 will be operating in the ordinary course of business during the sale process, and will have the ability to satisfy its post-petition indebtedness. This means we will make payment on any commissions credited to you December 1st forward.

    In light of the filing for Chapter 11, the company is prohibited by law from paying debts which arose prior to filing for Chapter 11. Unfortunately this means we will not be able to pay the past commissions due for October and November. The payment of those funds will be handled by the courts.

    If you have any questions about payment of past due amounts, I highly recommend contacting our Chapter 11 counsel Adelman & Gettleman, Ltd., www.adelmangettlemanlaw.com for further information.

    Here's the official notice of our Chapter 11 filing and deadlines for creditors.
    http://www.music123.com/downloads/db...uptcy_case.pdf

    Again please be assured you will be paid for all commissions due from December 1st forward.

    We have the support of LinkShare of moving forward and on having a great 2007.

    If I can answer any questions that don't pertain to past due commissions let me know.

    Cory E. Nielsen
    Affiliate Marketing Manager
    P: 574.251.3500 x2271
    E: affiliates@music123.com

  2. #2
    Resident Genius and Staunch Capitalist Leader's Avatar
    Join Date
    January 18th, 2005
    Location
    Florida
    Posts
    12,817
    LOL glad I didn't follow 'em. I still think they went to Snare just so they could "clean" their batches of transactions, and pretend they weren't having any/as many reversals anymore (after getting an awful record as a major reversal-maniac when they were at CJ).

    Quote Originally Posted by Me, in June 2003
    I wouldn't follow them to any maybe-pay network even if they claimed to be offering a 110% commission. I know I'd never see it, not from THAT deadbeat merchant...it'd be reversed down to practically nothing in no time, and I'd probably have to sue for the rest!
    http://forum.abestweb.com/showpost.p...40&postcount=5

    The only thing that surprises me about this one is that they made it so long without officially declaring bankruptcy and being sold off. 3 years from when I pronounced it Terminal, according to my quick search. Usually the zombie merchants stop staggering around sooner.

  3. #3
    15 years and counting
    Join Date
    January 18th, 2005
    Posts
    6,121
    Quote Originally Posted by Leader
    LOL glad I didn't follow 'em. I still think they went to Snare just so they could "clean" their batches of transactions, and pretend they weren't having any/as many reversals anymore (after getting an awful record as a major reversal-maniac when they were at CJ).

    http://forum.abestweb.com/showpost.p...40&postcount=5

    The only thing that surprises me about this one is that they made it so long without officially declaring bankruptcy and being sold off. 3 years from when I pronounced it Terminal, according to my quick search. Usually the zombie merchants stop staggering around sooner.
    Sorry, I saw this post before.
    http://forum.abestweb.com/showthread.php?t=83308
    But, I'm pretty sure I've the same experience with them than Leader.

  4. Newsletter Signup

+ Reply to Thread

Similar Threads

  1. S E X is bankrupt, er...the owner of S*X.com, that is
    By Bill in forum Domains & Hosting
    Replies: 11
    Last Post: March 19th, 2010, 12:50 AM
  2. 25% of Retailers May Go Bankrupt
    By Trust in forum Midnight Cafe'
    Replies: 26
    Last Post: January 3rd, 2009, 12:22 PM
  3. Music123 goes bankrupt
    By concorde in forum Rakuten LinkShare - LS
    Replies: 14
    Last Post: December 29th, 2006, 12:38 PM
  4. SchoolPop went bankrupt!
    By Sam Bay in forum Suspicious Activity!
    Replies: 4
    Last Post: October 27th, 2005, 06:46 PM
  5. ValueClick Bankrupt?
    By finaidguy in forum Commission Junction - CJ
    Replies: 10
    Last Post: September 7th, 2005, 10:07 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •