#3: Sub Pop Records (1990s Crisis)
Founded in Seattle by Bruce Pavitt and Jonathan Poneman, Sub Pop launched the global grunge phenomenon by signing Nirvana, Soundgarden, and Mudhoney. Despite changing rock history, the label suffered severe financial mismanagement and rapid debt accumulation after Nirvana departed for Geffen. The imprint narrowly escaped total bankruptcy in 1995 by selling a 49 percent stake to Warner Bros.
