He texted me saying, I’ve just watched 24 Hour Party People and I think we should do that!” Felix White is sat in a South London pub garden next to his friend Morad Khokar, a senior press officer at Warner Bros, talking about the moment that led them to set up Yala! Records.

The pair met years ago, cementing their friendship when Khokar handled the band’s press. “I thought, Let’s start the new Factory Records,” says Khokar. “Felix was away, ...