Record label from London which was created in 1980 as an offshoot of Beggars Banquet by Ivo Watts-Russell. Characterized early on by heavy goth influences - The Birthday Party, Nick Cave, Lydia Lunch and Bauhaus. In the "second coming" they defined the ethereal and ambient genres with Cocteau Twins, Dif Juz and This Mortal Coil. In the "third coming" they turned to absurdist American rock with Throwing Muses and Pixies.