Chicago's Touch and Go Records
announced today that it's ceasing the manufacturing and distribution side of its operation. Though it's known primarily as a label (!!!, Ted Leo, Enon), it had far greater impact in the industry as the distributor of dozens of your favorite indie labels (like Merge, Kill Rock Stars and Drag City). Without Touch and Go, in this economic climate, the indies will have a hard time getting their product to retailers.
Greg Kot has more, including a full list of all labels with distribution ties to T&G, on his blog