The warehouse was set ablaze at 4 a.m this morning. The full extent of the damage is not known as the building cannot be entered yet.

PIAS are the distributors for over 150 independent music labels including big names like XL Recordings, Domino, Fabric, Kompakt, Rough Trade, Taste, Vice and Warp. A full list of the labels they work with can be seen here.

Warp, Ninja Tune, Young Turks and Sunday Best have all tweeted that they have had stock destroyed in the fire.

We've posted some live footage of the blaze as well as an account of looting on the site by an employee.

Latest: Many smaller labels thought to be uninsured, predictions that some labels that are run on a very tight margin may face ruin.