Allegro Records (5)

For the label, see Allegro (2) US record company (1947-1952). Founded in late 1947 by Paul Puner, Allegro's initial focus was on children's records. This product, Allegro Junior, was produced under the guidance of Puner's wife Helen, a journalist who specialized in child psychology. In fall 1948 the company introduced microgroove LP children's records. The following year they set up a subsidiary company, Discos Allegro, Inc., under the direction of Buenos Aires radio producer Jacobo Muchnik, to produce children's records for the Latino market. Allegro entered the classical market in early 1948, first releasing 78s under the Allegro Artist label, and in May 1949 released LPs on the Allegro (2)/Allegro Classics/Allegro Holiday labels. By April 1952, Allegro owed $50,000 in back taxes and on October 28 of that year the company was declared bankrupt. Eli Oberstein purchased the company's assets for $75,000 at a trustees' auction. Oberstein continued to produce the Allegro label as a mid-level brand in his Record Corporation Of America lineup. For the UK branch, see Allegro Records Ltd.