It seems as though radio DJ and businessman DJ Sbu did indeed have too much on his plate. This after news that the record label he co-owned with Thembinkosi "TK" Nciza is closing down.
According to Sunday World, the label is being deregistered by the South African Companies & Intellectual Property Commission after Sbu and TK allegedly failed to submit their annual returns for more than five years.
The duo’s business relationship reportedly spanned 15 years, with TK even being registered as a director at Mofaya - a position which he has since resigned from.
TS Records’ woes began about five years ago when a lot of their big artists (including TK’s wife, Mafikizolo’s Nhlanhla and Zahara) started to leave the label.
DJ Sbu maintains that there is no bad blood between them, even going so far as to state "I can confirm that I have not been active in TS Records business affairs for while but it was not because TK and I fought. We are still OK as brothers. It's just that he wanted to concentrate on his political career and grow his other business ventures and I also wanted to concentrate on growing MOFAYA."
TK on the other hand could not be reached for comment.
What do you guys think about this whole situation?
Main image credit: mpumalanganews.co.za