As a result, the major has entered into a consultation process with all of Olympic's 11 staff. It is understood that the studio is not profitable.
An EMI source says, "Olympic staff are highly professional and dedicated and we are very sorry to be doing this."
The Olympic Studios has been host to recording sessions from artists including The Rolling Stones, Jimi Hendrix and Led Zeppelin.
The closure means that EMI now has just one studio asset - Abbey Road ...
Register for a Music Week trial to access this article.
Sign up for your free trial to Music Week, the no 1 weekly trade magazine for anyone who needs to understand the business of music. For four whole weeks we will provide you with great, in-depth journalism that gets right inside the business of music in print and 24/7 online. With both the print and digital edition you will be able to enjoy the whole Premium experience of a subscription to Music Week - absolutely free.Start your free trial