The fund is being provided by some of AIM's larger member labels, other well wishers and from AIM's reserves, and will be made available to affected smaller labels pro-rata based on labels' [PIAS] turnover this year.

Funds will be made available as interest-free and security-free loans repayable within a year. Total initial funds available are £250,000, although this is being added to almost hourly.

Alison Wenham commented: "The independents will survive this disaster, as they have survived other business challenges. ...