Cherry Red Records is an independent record label established by Iain McNay in 1978. The label was named after the song of the same name by The Groundhogs. The first band signed by Cherry Red were The Tights. An independent record label is variously described as a record label operating without the funding (or outside the organizations) of the major record labels, and/or a label that subscribes to indie philosophies such as DIY and anti-corporate art. ... 1978 (MCMLXXVIII) was a common year starting on Sunday (the link is to a full 1978 calendar). ... The Groundhogs were a British blues band founded in 1963, which toured extensively in the 1960s and continued in existence for a number of decades. ...