Posted by Bossip Staff

The checks have stopped coming in for a particular record label who is filing for Chapter 11 bankruptcy:

New York based independent record label TVT Records terminated the majority of their employees today. TVT, which is home to major recording stars like Lil Jon & The Eastside Boyz, Pitbull, Ying Yang Twins, The Polyphonic Spree and others, is expected to file for Chapter 11 bankruptcy protection this week. It is not known how the bankruptcy filing will affect the label’s release schedule, which includes Lil’ Jon’s highly anticipated album Crunk Rock. Pitbull accused TVT Records of not properly promoting the album and placed most of the blame on Gottlieb. “I’m out here working like a slave, doing things that other artists don’t even know how to do,” Pitbull said. “A label’s there to further and promote your career, but it feels like they just keep holding me back.”

Artists need to get on their grind, because for some reason this industry does not seem too lucrative these days.

Via AHH