Manchester's Beatroot Music platform has fallen into liquidation

Beatroot Music, a Manchester-based online music platform, has gone into liquidation.

It was announced today (December 12) that the startup - founded in 2015 - has ceased trading. This comes only a year after the company secured £125k in equity funding from Creative England to prepare for its definite launch.

The platform has helped record labels, production companies and publishers prepare their music catalogues by bringing tracks, metadata and legal rights together in one place.

Mr Steven Wiseglass, who works for insolvency practice Inquesta, said: “Beatroot did attract customers which generated revenue, but sadly this was not sufficient to enable the business to continue on a viable basis.

“An attempt was made earlier this year to sell the business and assets but, although interest was shown, a sale could not be secured. The board of directors of the company have considered its financial position and have now concluded it is insolvent.”

The Great Ancoats Street business failed to win enough customers to continue trading and make it sustainable. All five of its employees have been made redundant.

Steven Wiseglass, of Inquesta, is acting as Beatroot Music’s official liquidator. He is now seeking a buyer for Beatroot’s assets which include intellectual property comprising of domain names, its website and bespoke software.

Wiseglass concluded: “Beatroot’s technology holds great appeal in this digital age and discussions with several interested parties regarding a potential acquisition of the company’s assets are ongoing.”