According to a new report from
International Business Times,
Victory Records founder
Tony Brummel says that he will begin laying off employees and dropping artists if streaming service Spotify doesn't restore the Chicago-based record label's catalog.
Spotify
removed Victory Records' catalog roughly two weeks ago amid a dispute between the two parties over royalty payments.
"They are over 70 percent of our monthly digital sales," Brummel wrote in an email that IBT says was circulated to undisclosed recipients on Friday. "Sorry to curse but in a few months -- I am fucked."
"They are going to force me to drop artists and lay off staff," Brummel added.
