March 17, 2008 03:21:13 GMT
Although garnering a huge profit through Cowboy Troy's debut album, Raybaw Records did not succeed in lifting the subsequent releases.
Executives at Big & Rich's record label have come to a mutual conclusion that the recording house will be closed. Raybaw Records, an imprint of Warner Bros Records, has reportedly experienced a string of disappointing sales and therefore has to be closed down.
Although scoring a big profit from Cowboy Troy's 2005 debut album "Loco Motion", Raybaw had to swallow bitter pills in the subsequent releases. Troy, who also released his second album "Black in the Saddle" through the label last year, will switch to become the artist under Warner Bro's label, Billboard magazine reported.
Duo Big & Rich which are comprised of Big Kenny and John Rich have also agreed to the closure, but no statements from them have been released. They are currently on hiatus as a duo to give time for Kenny to recover from his neck injury but Rich will release a solo album later this year.