14 December 2008
The Haçienda National Debt: £30,000,000 and Counting 
Over the years and through countless interviews with multiple players, various (and continuously escalating) numbers have been assigned to the debilitating debt of Factory Records storied (and long-gone) Haçienda club. Starting with a purported £1,000,000 loss bandied about following its closure in June of 1997, the "actual" number continues its slow yet-skyward march to permanent mythic status.

In a run-up interview to the publication of his forthcoming How Not to Run a Club book, Peter Hook reveals Haçienda debts infinitely more staggering than those previously acknowledged (or claimed). In a Haçienda world that seems to have more in common with Hollywood accounting practices than record labels & nightclubs, Hook now asserts that £20,000,000 profit + £10,000,000 loss = £30,000,000 debt.

Following on with this bizarre Fibonacci Sequence of ever-mounting debt history, we can fully expect a revised debt-load projection of £1 billion by the year 2012, and the retroactive blaming of the Haçienda for the current worldwide financial crisis.

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FAC 51 The Hacienda
The Names

Post punk cult band The Names emerged in the winter of 1977-1978 as The Passengers, gathering immediate attention on the local Brussels scene. In 1979, after a series of successful gigs and a crucial step forward opening for Magazine, they recorded their first E.P. ("Spectators Of Life") and attracted the interest of prominent label Factory Records in Manchester.

Their first British studio session (at Stockport's Strawberry Studio) produced the single "Nightshift" / "I Wish I Could Speak Your Language (Fac 29). Receiving enthusiastic reviews in the UK and abroad, it marked the start of a long and fruitful collaboration with producer Martin Hannett. The album "Swimming" followed as well as more singles, including "Calcutta" and "The Astronaut".

- extract from the official website biography

Factory Records Catalogue

The Durutti Column