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More Fallout: HDMusic Files For Bankruptcy

INCLINE VILLAGE, NV (Hypebot) – Is another music startup riding off into the sunset?

HDGiants Inc. and its HDMusic and MusicGiants subsidies filed for Chapter 11 Bankruptcy protection, on May 18th in the US Bankruptcy Court for the District of Nevada. The online retailer serviced the high end digital audio market with higher quality HD downloads available both individually and in packages ranging in price from $500 to $5,000 "hand-crafted" by an HDGiants' Concierge and delivered on a hard drive.

Most major labels offered product through the company with the three largest unsecured creditors named as Scott Bahneman, Friendly Capital Partners, LP, and Sony Music Entertainment. The debtor’s petition lists assets and liabilities of $1 million to $10 million.