The record label behind Iron Maiden & Morrissey have announced that they are still in trouble with their fifth successive profit warning. Shares in the independent music company tumbled 40% after a new management team failed to provided the much needed results.

A number of articles appeared over the weekend detailing problems about the company after a statement that Sanctuary was to post underlying losses between £17-22 million. Including the difficulty in paying the ousted Cheifs Andy Taylor half a million payoff, a returned CD stockpile of over a £1million and the tumbling share price.

The company has suffered in the last few years from a period of too much expansion, without batting down the hatches. Maybe Axl Rose and Chinese Democracy will save them?