Posted in News by Generator on Monday 9th of March 2009
The recent collapse of Trinity Street, a large music based e-commerce company has sent significant shockwaves throughout the industry.
Trinity Street provided digital marketing, merchandising, online CD stores and ticket sales for huge clients, including Oasis, The Verve and Metallica. The company recently went into administration, leaving its customers to unexpectedly and immediately source other commercial partners. For example, Oasis’s representatives immediately posted a message on the band’s site confirming that they had reverted to selling cds and other merch through its previous provider recordstore.co.uk
The London based company, owned by Trinity Universal Holdings, effectively and quite suddenly ceased trading and went into administration on February 16th, leaving no further comment or elaboration as to its sudden demise.
This caused problems with ticketing to the NME’s recent Big Gig, headlined by The Cure at London’s O2 arena on 26th February.
Fans who had purchased directly through the NME store on the website, until recently operated by Trinity St were left out in the cold as tickets weren’t sent out and monies paid were all tied up in the liquidation of the company, forcing the gig’s promoters AEG advising fans to apply for refunds from Trinity Street’s administrators, Tenon Recovery and to re-buy tickets.
AEG’s email to customers specifically stated: “At the time of working with Trinity Street there was no reason to believe that the company would cease trading”.
In a further twist, it was then revealed that the Ministry Of Sound plan to sue the firm's financial backers, Ingenious Media.
Ministry Of Sound were one of Trinity Street's major clients, with the e-commerce firm providing the dance music brand's online sales operations, including its download, mail-order and ticket sales. Ministry's parent company MSHK claims that they also had little warning about the pending closure of Trinity Street, which in effect temporarily suspended their online operations.
They allege, after they had expressed concerns that they had repeatedly received assurances from the company's management and Ingenious, that Trinity Street was "solvent and stable".