Indie's Touch and Go Records' Future Is Very "Touch and Go"

Touch and Go Records, an Indie Rock record label, announced today that it is halting the production and release of any new music and shutting down their distribution.

The 28-year-old company, a staple in the music scene in Chicago, has named the "current state of the economy" as the reason for the decision. The company is no longer able to afford charges for distribution and manufacturing services, thus resulting in the cutting of ties with 20 independent labels that it had previously worked with.

In a statement released by Touch and Go, the company said, "It is the end of a grand chapter in Touch and Go's history, but we also know that good things can come from new beginnings."

Along with the scaling back of label ties and music production, the record label is also cutting jobs, though no specific number has been released.