In twelve years, ABBA have sold more than 100 million records and amassed more loot than their own monarch, but last week after an expected £4 million trading profit turned into a major loss, their empire, and its Kuben AB shares, were teetering on the edge of collapse. What led the group’s manager, Stig Anderson down the path of ruin was that their East European market refused to pay the group’s royalties in Western currencies. Instead, ABBA were paid variously in potatoes, glassware and industrial goods. Keen to compensate, Anderson set up special companies to trade in spuds and tumblers; imagining himself to be some latter-day wallenburg, he speculated wildly and, as it turns out, disastrously. Transcribed for ABBA World

Photo: ABBA – they could cash the chips, but not the spuds…

RAM (Australia) · 14 October 1983 (Page 4)

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