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# More Trouble At EMI?  Terra Firma Dumps In Another $45 Million
- URL: https://www.hypebot.com/more-trouble-at-emi-terra-firma-dumps-in-another-45-million/
- Published: 2009-05-29T07:14:00.000Z
- Updated: 2009-05-29T07:14:00.000Z
- Description: Financial statements released earlier this month by EMI pointed to a turnaround for the major label group. The company admitted to being hit by an industry-wide 10% sales downturn, but. Continue reading [https://www.hypebot.com/hypebot/2009/05/more-trouble-at-emi-terra-firma-dumps-in-another-45-mill
- Author: Bruce Houghton
- Tags: Major Labels, #wp, #wp-post, #Import 2026-01-21 11:03

[![EMI](http://hypebot.typepad.com/.a/6a00d83451b36c69e201156fba0e8d970c-100wi "EMI")](http://hypebot.typepad.com/.a/6a00d83451b36c69e201156fba0e8d970c-pi?ref=hypebot.com) Financial statements released earlier this month by [EMI pointed](https://www.hypebot.com/emi/) to a turnaround for the major label group. The company admitted to being hit by an industry-wide 10% sales downturn, but pointed to cost cutting and a few successful releases as proof of its health. 

[![Moneytoilet](http://hypebot.typepad.com/.a/6a00d83451b36c69e201156fba0f8a970c-120wi "Moneytoilet")](http://hypebot.typepad.com/.a/6a00d83451b36c69e201156fba0f8a970c-pi?ref=hypebot.com) Now just 3 week's later, EMI owners Terra Firma Capital has been forced to put in an additional £28 million ($45 million) to help the company avoid defaulting on a multi-billion dollar loan from Citigroup, sources told the [Wall Street Journal](http://online.wsj.com/article/SB124351929640262615.html?mg=com-wsj&ref=hypebot.com). Adding to fears, the chief financial officer of EMI's music division has chosen to leave the company.