Situation Two, aka Situation 2, was a record label created in 1981 by Peter Kent as an offshoot of the larger Beggars Banquet label. At the time, Beggars Banquet records were distributed by WEA Records; to appeal to the indie audience and to get releases into the indie charts, the Situation Two label was created. When Situation Two was dissolved in 1992, many of the roster's releases were then issued on the main Beggars Banquet label, and several were later included on the 1999 Beggars compilation album Pspyched!.