Cherry Red Records is a British independent record label founded in Malvern, Worcestershire by Iain McNay in 1978. The label has released recordings by Dead Kennedys, Everything But the Girl, The Monochrome Set, and Felt, among others, as well as the compilation album Pillows & Prayers. In addition to releasing new music, Cherry Red also acts as an umbrella for individual imprints and catalogue specialists. Cherry Red was listed by Music Week as one of the UK's top ten record companies in Q1 2015 for sales of artist albums. History Cherry Red grew from the rock promotion company (similarly named after the song "Cherry Red" by The Groundhogs) founded in 1971 to promote rock concerts at the Malvern Winter Gardens. In the wake of the independent record boom that followed the advent of punk rock, founders Iain McNay (who remains company chairman) and Richard Jones released the label's first single, "Bad Hearts" by punk band The Tights in June 1978. Cherry Red's early roster included releases by Morgan Fisher under various pseudonyms, using a small studio installed in his Notting Hill flat, as well as material licensed from The Hollywood Brats, Destroy All Monsters and The Runaways. The latter was the label's biggest seller until McNay invested $10,000 in the recording of the debut studio album by San Franciscan political punk band Dead Kennedys. Fresh Fruit for Rotting Vegetables (1979) and its attendant singles sold well worldwide. New A&R head Mike Alway had promoted the Snoopies venue in Richmond, London and been involved with the Scissor Fits, and signed groups including The Monochrome Set, Everything But The Girl, Eyeless in Gaza, Felt, and Five Or Six. McNay aspired for Cherry Red to be a label that offered a space for artists who would otherwise not fit the image of some of the more succinctly defined and stylised independents. "Cherry Red Records was always about musical individuality, diversity, character, commitment and passion," he stated in 2008. It also marketed other smaller independent record labels, like Bristol's Heartbeat Records, which recorded the Glaxo Babies. Cherry Red's role as one of the keynote labels of the early 1980s independent scene was confirmed by the success of a budget compilation album compiled by Alway and released at Christmas 1982. Retailing for 99p, Pillows & Prayers topped the independent charts for several weeks. The label also released several albums from Adrian Sherwood and his ON-U