The Wax Trax! story started in the mid-1970s when partners Jim Nash & Dannie Flesher opened a record store under that name in Denver. In 1978, they sold the Denver store (which is still open) and moved to Chicago, where they opened a new Wax Trax! location.
The label fell on hard times in the early 1990s due to many of their artists leaving for major labels. In 1992/93, the label was bought by TVT Records and remained active with Nash & Flescher retaining creative control. But despite their involvement the pioneering spirit of the label never recovered.
On June 14, 2014, Wax Trax! (now led by Jim Nash's daughter, Julia Nash) officially released its first new music in twenty years with the 'TKO Mindfuck' 12" single by Cocksure (Chris Connelly and Jason Novak).