Proper Music Group - Administration

Proper Music Group (PMG), the holding company of a number of businesses in the music and film industry, had certain of its assets sold out of administration to Dutch distributor and vinyl producer Artone and PMG managing director Drew Hill.

PMG entered administration on 27 February after facing financial difficulties associated with the recent bankruptcy of its Swiss parent, Proper Group AG (formerly Utopia Music AG).

Shortly following their appointment, joint administrators Mark Supperstone and Ben Woodthorpe of Evelyn Partners completed the sale, which included the shares of all companies trading under PMG – Proper Music Distribution (the UK’s leading physical distributor of independent music), Proper Records, Proper Music Publishing and propermusic.com.

In December, the joint administrators also completed the sale of Utopia Distribution Services (a sister company of Proper Music) to DP World.

Coutts & Company has a registered charge against Proper Music, which was assisted by Pinsent Masons.