Guitar Center files for bankruptcy

As many of you have heard Guitar Center has filed for chapter 11 protection. A lot of talk and speculation was buzzing about this and with the Covid 19 situation it was only a matter of time.


What does this mean for the short and long term of the company? Of course some restructuring will take place. Cut the excess to focus on your strong points to ride out these devastating economical times.


(Important side note here) - It is reported that Guitar Center had been dealing with debt for some time prior to the Covid crash. With nearly 300 store locations and what appears to be some leverage with their real estate they just may be able to come out of this ok. Smaller in size maybe, but still here and surely able to continue ship anywhere as they have.

So don't trip little and grown kids alike, you can still place your orders for that new Denon Prime or the latest offering from Pioneer. The bankruptcy won't interfere with your delivery times, but the COVID will. Order plenty in advance.


Here's a few sources that you can cross reference with:


(USA Today)

https://www.usatoday.com/story/money/2020/11/14/guitar-center-chapter-11-bankruptcy/6294720002/


(Bloomberg)

https://www.bloomberg.com/news/articles/2020-11-13/guitar-center-is-said-to-prep-bankruptcy-with-creditor-support


(Spin)

https://www.spin.com/2020/11/guitar-center-expected-to-file-for-bankruptcy/



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