By Matthew Brooks
Rainbo Records is one of the largest vinyl pressing plants. Or, it was.
Company president Steve Sheldon was the bearer of the sad tidings this week.
Due to rising rent prices, Rainbo Records is shutting down.
The report says the company was hit with a “massive rent spike” for its L.A. factory.
You can read the letter below:
Dear Valued Customers,
After well over a year of trying to negotiate an agreement with our Landlord to keep Rainbo on Eton Street, I am sorry to say that unfortunately we have been unsuccessful. Our Landlord apparently has other plans for this building and has demanded that we vacate the space.
It is with incredible sadness that I must announce to you that as of January 31, 2020 we must be out of the building and Rainbo after eighty years will no longer be in business.
Rainbo will continue to operate through December to complete all orders that we have in house now.
We will cease to take any new orders immediately.
We will help you as much as possible to get your assets that we may have in our possession returned to you or shipped to another supplier.
You will need to request what you want returned by selection numbers. There will be a nominal fee to pack up components and ship them out and you will be responsible for all freight cost.
No parts will be returned if you have any unpaid invoices with us.
I am sure you might have some questions and I and our team will be here to answer and try to help make this transition as easy as possible.