British rock star Ian Mcculloch is distraught at the announced closure of England's iconic Liverpool Parr Street studios. The infamous studio, part-owned by veteran rock singer Phil Collins, has been a creative source for some of Britain's biggest bands including Coldplay, Simply Red, Badly Drawn Boy and New Order. The sale is due to financial losses. Echo And The Bunnymen frontman MCCulloch says, "It's a sad day for Liverpool. "One of the city's most successful cultural assets is being closed to line the pockets of corporate property developers".