Following online rumors, long-time indie mainstay Touch & Go has confirmed that it will cease distributing indie labels and become a catalog only label for the time being. The Chicago label that that has produced seminal albums from Slint, the Jesus Lizard, Big Black, TV On The Radio, Shellac and the Yeah Yeah Yeahs, and later garnering fame for its losing copyright lawsuit over a "handshake" deal with the Butthole Surfers, has met its demise after nearly 30 years. The label, who's recent roster includes Ted Leo, the Uglysuit and All The Saints had seen financial trouble amidst a difficult economy and a decline in record sales. Promotion for new acts such as Sholi and Mi Ami, who both released their debut albums today, will be kept up for a short time as not to leave the new bands without a paddle. The label is expected to go catalog-only, and an unspecified number of layoffs will occur. A press release confirming details is expected soon. www.touchandgorecords.com
