Neal McCoy is closing down 903 Music, the record label he founded in February 2005 with longtime manager Karen Kane. The Nashville-based company was the label home for McCoy, Darryl Worley and the Drew Davis Band. In a written statement issued Friday (May 4), McCoy was candid in explaining the reason for the closure. "The truth is that after two great years of success due to the hard work of a lot of wonderful people, we flat ran out of money," he said. "End of story." The first single released by 903 Music, McCoy's "Billy's Got His Beer Goggles On," reached the country Top 10 in November 2005. Earlier this year, Worley's "I Just Came Back From a War" peaked at No. 18. Worley's current single, "Livin' in the Here and Now," has climbed to No. 55 in its second week of release.