If Factory collapsed with a mere £2 million in debts, surely the band should`ve bought it and continued to be independent. They owned all the back catalogue anyway. London have only ruined (in a day) what they spent 14 years creating anyway.
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Black Monday
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Should New Order of bought Factory & worked for themselves instead of signing to London?
Closed-
Kept FCL going? 10 (77%)
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Moved to London? 3 (23%)
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i'm not sure they had any money left after factory collapsed but then again they are always giving us the poor mouth
It would have been quite nifty if the order could have saved factory...but, as someone else said, do you reckon they had that kind of money???
If they had seen one red cent from the sales of Technique, perhaps they could swing it....but as we all know....
I know they lost money,never got paid for Substance or Technique. But,that was Factory at fault. They must have made money from Qwest & MCA. I also remember reading something in NME way back when that there was talk of New Order starting their own label - Manchester Records.
I think there was a tax situation, which is why they had to sign to London (and thus to pick up a signing fee) rather than sorting their own label. They probably made the right decision from a career perspective, particularly as at the time of the move to London, New Order weren't exactly a going concern.
