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Thread: Guitar Center Files for bankruptcy

  1. #1
    Join Date
    Jan 2010
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    Default Guitar Center Files for bankruptcy


  2. #2
    Join Date
    Sep 2013
    Location
    Los Angeles, near the Beverly Center.
    Posts
    5,292

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    It's been coming for a long time. This will allow them to reorganize, probably close a few stores. I frequent the Hollywood and West Los Angeles stores, which I think operate pretty well.


    This is Michael Kohan in Los Angeles, Beverly Grove near the Beverly Center
    9 tenor cutaway ukes, 4 acoustic bass ukes, 12 solid body bass ukes, 14 mini electric bass guitars (Total: 39)

    Donate to The Ukulele Kids Club, they provide ukuleles to children in hospital music therapy programs. www.theukc.org
    Member The CC Strummers: www.youtube.com/user/CCStrummers/video, www.facebook.com/TheCCStrummers

  3. #3
    Join Date
    Nov 2017
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    The Guitar Centers in central Ohio are an embarrassment.

    - Edited to remove snide remarks.

  4. #4
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    Jul 2015
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    Catskill Mountains, NY
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    Quote Originally Posted by EDW View Post
    Just saw this in the NYT
    That's a shame. I got my Grateful Dead uke from them - and a few miscellaneous items. They're 1.3 billion in debt! Wow!
    Too many ukes, but I can't stop buying!
    https://www.catskillukulelegroup.com/

  5. #5
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    Jul 2013
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    Siesta Key
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    Quote Originally Posted by Jerryc41 View Post
    That's a shame. I got my Grateful Dead uke from them - and a few miscellaneous items. They're 1.3 billion in debt! Wow!
    But now after a likely debt for equity swap, remarkably only $500 million in debt!

  6. #6
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    Jan 2010
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    Quote Originally Posted by pmorey View Post
    But now after a likely debt for equity swap, remarkably only $500 million in debt!
    Pocket change!

  7. #7
    Join Date
    May 2020
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    581

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    I hope they don't close any of the stores near me.
    They are a great place to buy many things big and small. You just can't beat 10 minute delivery time.

  8. #8
    Join Date
    Jun 2020
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    348

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    There are a lot of nuances to how this pandemic is affecting businesses and industries. Frankly I'm a little surprised about GC. I know they've been circling the drain for a while now, but the manager at my local store recently told me that they'd had a bunch of really strong months after things reopened here in the summer. I guess they weren't strong enough to make up for weeks or months of no income when you're already falling behind.

    Compare the GC news with Fender's recent announcement that they're having a record-breaking year:

    https://www.guitarworld.com/news/fen...in-its-history

  9. #9
    Join Date
    Jul 2015
    Location
    Catskill Mountains, NY
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    Quote Originally Posted by dwizum View Post
    There are a lot of nuances to how this pandemic is affecting businesses and industries. Frankly I'm a little surprised about GC. I know they've been circling the drain for a while now, but the manager at my local store recently told me that they'd had a bunch of really strong months after things reopened here in the summer. I guess they weren't strong enough to make up for weeks or months of no income when you're already falling behind.

    Compare the GC news with Fender's recent announcement that they're having a record-breaking year:

    https://www.guitarworld.com/news/fen...in-its-history
    I wonder how their online sales were. I have none of their stores near me, so I usually bought online, although I did buy from a store in MA once.
    Too many ukes, but I can't stop buying!
    https://www.catskillukulelegroup.com/

  10. #10
    Join Date
    Dec 2009
    Location
    New England, USA
    Posts
    4,150

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    I wouldn't worry, they'll still be in business. I've found some super deals on their website for used instruments, and the no questions asked 30-day return policy is good.
    John

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