Pinnacle distributor goes into administration

<p>Pinnacle, one of the UK&#39;s leading entertainment distributors, has gone into administration, reports Retail Week. Pinnacle supplies CDs, DVDs and games to retailers such as HMV, Amazon and WHSmith.</p><p>Matthew Tait and David Gilbert of BDO Stoy Hayward were appointed joint administrators of Pinnacle Entertainment and Windsong Holding.</p><p>BDO said in a statement: &quot;Following appointment and an initial review of the company, the administrators have regrettably had to make 94 staff redundant.&quot; Tait said: &quot;Unfortunately the company has been affected by the sudden and steep downturn in the UK economy. We are looking at how best we may be able to handle the trading assets and work with the company to achieve the most favourable outcome.&quot;</p>