Paris-based indie distributor Nocturne, which distributes over 300 independent labels, is under serious financial pressure and its managing director was unable to deny it was facing bankruptcy when contacted by

The company has already suspended payments, understands.

Nocturne managing director Bruno Theol acknowledged to that his company is passing through "tough times" and did not deny it could enter into bankruptcy, but he declined to comment further.

French labels distributed include Fremeaux & AssociƩs, Arion Classics and Arion World, alongside labels from the U.K. such as Fierce Panda and American label Artists Only.