While Lily Allen’s “retirement” proved to be untrue, it does look like the pop singer intends to take a long break to launch her own music label. Yes, the English native is joining Amy Winehouse and Grizzly Bear’s Chris Taylor and is becoming a record executive.

Allen revealed the news in an interview with The Telegraph: “I’m setting up a record label at the moment, getting involved in lots of different things. I think things need to change in the music industry and we need to rethink a lot of stuff.”

After winning “Best Track” at the Q Awards, she joked that she plans to sign artists that will be “terrible ones that work on the radio.”

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Work on the label will occur during her hiatus after her 2009-10 tour ends. “I’m definitely taking a break. I’ve been on the road for nearly five years so I’m tired and I need a break,” Allen said, also mentioning an interest in theater. “”I might be doing [a] play, it isn’t confirmed yet. I’m just keeping all my options open.”

Currently, she has yet to reveal a name for the imprint. We’ll of course keep you updated in the event that this actually happens.