Damn you, economic crisis. Damn you even more, troubled music industry. You’ve killed one of the most promising players on the D.C. music scene.

DCist reports that Gypsy Eyes Records‘ owners, Kalani Tifford, Josh Read, and Nick Pimentel, sent a missive to its artists yesterday announcing that the label is ending its just-over-two-year run.

Given the climate I mentioned above, the closure doesn’t come as a great shock; Leitko wrote last month that sales and publicity for Gypsy Eyes had been meager, and that they had pinned much of their financial hope on licensing fees — not a good sign. Meantime an already slow business had already stalled, with the website announcing no forthcoming releases and not even any news updates since August (save for an ad for a free show at Comet Ping Pong on Inauguration Night).

If it’s not shocking, however, it’s still sad. Gypsy Eyes’ commercial failure was directly proportionate to its creative success, from the folky DC singer-songwriters Vandaveer and Mikal Evans to the rock weirdness of The Apes. Here’s hoping they’ll all find a new outlet for their great music.