Musicunsigned is to close down its operations because revenues have fallen 'well below its original forecasts'. The company floated last October with the intention of providing a platform for promoting unsigned bands to the music industry. It also established its own record company, MU Recordings, to release unsigned material and was in the process of launching an on-line radio station. The board admitted that its business model would require more funds 'than it is prudent to spend'. Musicunsigned will remain on Aim as a shell, and is looking for a suitable acquisition.