 In the 1960s, they launched a subsidiary, Yuletide Records, which specialized in Christmas records (mostly with Johnny Cole and the Robert Evans Chorus).In the mid 1960s, Modern Records went bankrupt and stopped operating, but the catalogue went with the management into what would become Kent Records.After the deaths of Saul, Lester and Jules Bihari, the label's catalog was licensed to Ace Records in the mid-1980s and purchased by a consortium led by Ace in the 1991.