Gucci Mane is embarking on a fresh path … facing significant financial struggles with his label 1017 Records, he believes it’s time to releases all artists except for his standout performers Pooh Shiesty and Foogiano!!!
On Friday, Gucci reached out to his followers, confessing he neglected to celebrate the label’s anniversary on October 17, since the financial figures just weren’t in his favor.
Gucci disclosed he had informed his artists and their legal representatives prior to his announcement … but opted to sever ties so they could pursue new opportunities freely.
Even with the achievements of Pooh and Foogiano, Gucci’s camp has faced turbulent times since rebranding to “The New 1017” in 2020.
We’ve reported on the stories … Gucci’s performers Enchanting and Big Scarr fell victim to drug overdoses in December 2022 and June 2024, respectively, leaving the label in a precarious position.
The Texas artist HotBoy Wes received a 15-year prison sentence in January, coinciding with the arrest of 1017 newcomer Mac Critter, who faced first-degree murder charges.
Gucci mentioned that he continues to seek out talent for his roster, with a vast potential for newcomers to emerge.
Both Pooh and Foo are currently serving five-year sentences.