Hydra Head records, which has released records by Merzbow, Prurient, Isis and others, is folding. Hydra Head founder Aaron Turner put its closure down to "years of imbalance between creative ideals and financial realities, personal problems amongst the label operators, an unwillingness to compromise our aesthetic standards, a tendency towards releasing challenging (ie unmarketable) artists, and the steady decline of the music industry in general, are amongst the chief reasons for our inability to continue".
The label will be closing in December, but will maintain its back catalogue in an effort to repay debts to artists and manufacturers. Hydra Head says it wants to continue with all planned releases, and as such is starting a sell-off off all stock, with discounted CDs, LPs and merchandise, including test pressings. More details here.