Bankruptcy and Purchase
Following a bankruptcy filing, Wax Trax! was bought by New York-based TVT Records in 1992, with Nash and Flesher retaining creative control of the label. TVT continued to use the Wax Trax! imprint for years, even after Nash's death from AIDS-related complications on October 10, 1995.
In 1994, TVT released Black Box - Wax Trax! Records: The First 13 Years under the Wax Trax! label. It was a 3-CD box set compilation of the label's biggest hits. However, due to licensing issues stemming from the label's bankruptcy, the set did not contain any material by Front 242, even though the band's single "Headhunter" had been the label's best-selling record to date. A video compilation of the same name was also released, containing music videos by label artists (and likewise omitting Front 242's "Headhunter" video.)
When TVT closed the label's doors in 2001 with the final Wax Trax! imprint appearing on KMFDM's "Beat By Beat By Beat" DVD; General Manager of Wax Trax! Records Chicago Office Bart Pfanenstiel founded WTII Records (Wax Trax! II) in an effort to rekindle the spirit of Wax Trax!'s early music. Dannie Flesher retired from the music business and subsequently died of pneumonia on Sunday, January 10, 2010, in Hope, Arkansas. He was 58. Mr. Nash is survived by his two children, Julia and Aaron Nash. Julia Nash owns and maintains the website titled "WaxTraxChicago.com: The Official Family Site dedicated to the memory of Jim Nash / Dannie Flesher and the History of & Wax Trax! Records."
On January 10, 2011; WaxTraxChicago.com announced “Wax Trax! Records Retropectacle Comes to Metro.” The Retropectacle is the 33 & 1/3 year Wax Trax! Records Anniversary commemorative concert with proceeds benefiting the non-profit “Center on Halsted;” hosted by “The Nash Group 2449 (The Nash family and friends including Metro Chicago’s owner Joe Shanahan)” on April 15, 16 and 17th, 2011 in Chicago, Illinois; with performances by former Wax Trax! Artists: Front 242, My Life With The Thrill Kill Kult; Luc Van Acker, Paul Barker, Chris Connelly formerly of Revolting Cocks, and En Esch, Günter Schulz, Raymond Watts formerly of KMFDM; additional artists including Rights of the Accused, as well as Chicago DJ’s and VJ’s. Notably not included in the event are Ministry and KMFDM. Ministry's Al Jourgensen and KMFDM's Sascha Konietzko issued a joint statement stating:
"Jourgensen was never asked to participate, and Sascha Konietzko's (and KMFDM's) desire to participate and perform was declined by the event organizers. However, while we are both in no way associated with this event, we want to make it clear that we do support the good works of the charity involved and honor the memory of Wax Trax! founders Jim Nash and Dannie Flesher."
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Famous quotes containing the words bankruptcy and, bankruptcy and/or purchase:
“Bankruptcy and repudiation are the springboards from which much of our civilization vaults and turns its somersets, but the savage stands on the unelastic plank of famine.”
—Henry David Thoreau (1817–1862)
“You must get your living by loving. But as it is said of the merchants that ninety-seven in a hundred fail, so the life of men generally, tried by this standard, is a failure, and bankruptcy may be surely prophesied.”
—Henry David Thoreau (1817–1862)
“O, let us have him, for his silver hairs
Will purchase us a good opinion,
And buy men’s voices to commend our deeds.”
—William Shakespeare (1564–1616)