Greek label Black Lotus Records has posted the following statement on their official web site:"Black Lotus Records announces the postponement of the currently announced titles, for an undetermined amount of time, as it's in the process of reconstruction and on the lookout for new collaborators." Keith Fay of the Irish folk metal band CRUACHAN — who are signed to Black Lotus — posted a message on the band's web site claiming to have received a phone call from Black Lotus on Thursday (May 18) announcing they are closing their doors and that all bands currently signed to the company are being released from their contracts. Other artists believed to be affected by this development include SAVATAGE guitarist Chris Caffery, plus recently signed acts SKYCLAD, IMPERIA, OUTBURST and CRIMSON GLORY.
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