Hopeless Records has announced that they’ve acquired fellow punk rock record label Fat Wreck Chords’s catalog, and they’re going to be forgiving artist debts.
Lambgoat reports that Hopeless has, in a manner of speaking, brought Fat Wreck Chords (FAT) in as a companion label, meaning: it’s not being shuttered. Fat Wreck Chords co-founders Fat Mike (of NOFX) and Erin Kelly-Burkett will remain owners of the label’s name, logo, and trademark.
Hopeless Records has also agreed to a “no-new-signings policy,” and will keep the focus on Fat Wreck Chords’ current roster. This is in addition to reportedly forgiving a purported debut of more than $3 million by FWC bands.
In a statement, Hopeless Records founder Louis Posen said, “The opportunity to lead the history, catalog, and roster of Fat Wreck Chords into the future, alongside Mike and Erin, is the honor and privilege of my 30-year career.”
“We are incredibly grateful that Mike and Erin have entrusted the Hopeless team to care for their 35 years of passion and hard work,” Posen continued. “I don’t know when it will fully sink in, but we are deeply committed to honoring and continuing the remarkable history of Fat Wreck Chords.”
Kelly-Burkett added, “FAT has been my baby for 35 years. To me, it’s more than a label; it’s a community, a home, and a legacy built from the ground up. Louis understands that, and I can’t think of anyone better than Hopeless to carry FAT forward.
“As a true fan, Louis knows firsthand what FAT is all about, and will build on the foundation Mike and I laid with care and respect,” she went on to say. “These bands are my family, and I know they’re in good hands with the Hopeless family.”
Fat Wreck Chords was originally launched in 1990 and has released hundreds of albums over the past 3+ decades. This includes music from bands like Against Me!, Descendents, Lagwagon, NOFX, Propagandhi, Rancide, Rise Against, and Sick Of It All. Some bands currently on the label’s roster include Bad Cop/Bad Cop, Face To Face, Me First and the Gimme Gimmes, and Swingin’ Utters.
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