Originally started as the 'in-house' recording studios of the Philips Electronics company in 1978, the Wisseloord Studios in Hilversum grew to become one of the best recording facilities in Europe. Many famous artists recorded tracks here at one moment in time: ELO, Elton John, The Police, Scorpions, The Rolling Stones and Michael Jackson, to name just a few. However, in 2005 the studio started having financial problems which finally resulted in a bankrupcy in 2009.