Factory Records collapses

The band’s next album, Republic , was shadowed by the collapse of their long-time label, Factory Records , in 1992. The label had been ailing due to financial difficulties and was forced to declare bankruptcy. New Order never had a formal contract with Factory Records; although unusual for a major group, this was Factory’s standard practice until the mid-1980s. Because of this, the band, rather than Factory Records, legally owned all of their recordings. This has been cited by Wilson himself as the main reason why London Records ‘ 1992 offer to buy the ailing label fell through. Following Factory’s collapse, New Order signed with London Records, as did Morris and Gilbert separately for their side project, the Other Two . The Other Two’s debut album was originally intended for release on Factory. Republic , released around the world in 1993, spawned the singles ” Regret “—New Order’s highest-charting single in the US—” Ruined in a Day “, ” World “, and ” Spooky “.