Guitar Center files for chapter 11 .....

[Dr. Green]

............. looks like they went down the tubes .

 

[TheArchitect]

Chapter 11 is for restructuring. Not liquidation

 

[El Gringo]

I hope they survive the pandemic just like any other shop or human or animal . COVID-19 is hell on everyone and everything !

 

[Wilko]

They do fine as a gear selling business. Their problems started when private equity firms (Bain Capital--Mitt Romney) strapped them with unsustainable debt load typical of that kind of "investment"

https://pitchbook.com/news/articles...y-deluged-by-debt-guitar-center-turns-to-ares

 

[GotTheSilver]

This isn't their first time going through Chapter 11, is it? I seem to remember they did this a few years back, but am not sure.

 

[axeman565758]

This isn't their first time going through Chapter 11, is it? I seem to remember they did this a few years back, but am not sure.

no...your memory is good....i think it was like 5 or 6 years ago ....maybe further back.
They consolidated a lot of stores. I thought they were doing well, but as someone mentioned above, 2020 has been the kill shot for a lot of businesses

 

[workerunit]

Yeah, I just ordered a used 2008 Les Paul Standard from them. Who knows it may be the last guitar I ever buy from GC.