There’s a distinct lack of yuletide cheer for X Factor judge and Take That star Gary Barlow as we head towards the New Year as it’s been revealed that his own record label has gone bust.
Future Records was established in 2009, and the Mirror states that the concept behind the label was, at the time, hailed a “masterstroke” however, after signing up acts such as rapper Aggro -Santos and Sky 1’s Must Be The Music winner Emma’s Imagination, Future recorded a loss of £4million by the end of 2011.
A source close to Gary said the figures for this year are “expected to be even worse” and added, “Gary was naturally upset…
“He’d signed a few great bands who are destined for success but the problem was he also had a few turkeys.”
Gary himself said, “It’s been a very difficult decision but it came down to time.
“I’ve had a lot going on recently and I want to spend more time with my family.”
However, while failure is never fun, it’s not like Gary’s about to go broke over it, and of course, he has a host of lucrative deals lined up for 2013, which may or may not include a return to X Factor.
Simon Cowell is of course rumoured to be keen to axe Gary from the judging panel of the show, while ITV boss Peter Fincham is thought to be equally keen to keep him.
When Gary returned to the judging bench last year, Simon reportedly threatened to take X Factor away from ITV and air it on another channel, but of course, that hasn’t happened. Yet.
Here’s a reminder of Gary’s triumph in his organization of the Queen’s Diamond Jubilee earlier this year, which was in part why Gary was awarded an MBE in the Honours List this year…