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Guitar Center Not Going Bankrupt............

sbreide

Member
Messages
353

Bill Dennis

Silver Supporting Member
Messages
222
A guy can dream.
The long term fallout will be much broader than just GC going under. A lot of mfg'sd are owed a lot of money by GC. If GC goes under or gets a lot of debt forgiven from a Chapter 11 there will likely be a lot of collateral damage. I don't know whow the documents are written but GC filing could potentially hit all of the other brands like MF. That would be a real mess
 

poppunk

Member
Messages
681
The people that are hoping Guitar Center completely goes under because they would rather see local ships get money, okay.

The people who just hate them because of their specific customer experiences or general hate and discontent for the place, I get it. It may not always be rational but it sorta tracks.

But people who are hoping they go under so they can get some kind of sweet deal? You're probably not going to get any sweet deals of note. And I know they're not great jobs, but GC employs a lot of people. It seems kinda vulture-y to me be sitting by giddy hoping they go under so you might get a chance at saving a few bucks. Just like with the private individuals who might have to sell equipment to make rent.
 

Machew

Silver Supporting Member
Messages
1,893
The long term fallout will be much broader than just GC going under. A lot of mfg'sd are owed a lot of money by GC. If GC goes under or gets a lot of debt forgiven from a Chapter 11 there will likely be a lot of collateral damage. I don't know whow the documents are written but GC filing could potentially hit all of the other brands like MF. That would be a real mess
I dont really care. That teaches companies to get into bed with these terribly managed companies.

I work for a company now owned by an investment group and they suck the life out of everything that was good about a company.
 

Cormorant_

Silver Supporting Member
Messages
239
They are missing payments and have over 1.3 billion in debt. The writing is on the wall. Spin off MF and start defaulting. WeWork can join them in the end.
 

Bill Dennis

Silver Supporting Member
Messages
222
I dont really care. That teaches companies to get into bed with these terribly managed companies.

I work for a company now owned by an investment group and they suck the life out of everything that was good about a company.
You will care when your options for buying are cut to a small fraction and some of your favorite brands are no more...
 

Machew

Silver Supporting Member
Messages
1,893
You will care when your options for buying are cut to a small fraction and some of your favorite brands are no more...
Brands come and go. My only favorite brand that sells to GC is Ibanez and they will never go bankrupt because of GC.
 
Messages
2,323
But people who are hoping they go under so they can get some kind of sweet deal? You're probably not going to get any sweet deals of note. And I know they're not great jobs, but GC employs a lot of people. It seems kinda vulture-y to me be sitting by giddy hoping they go under so you might get a chance at saving a few bucks. Just like with the private individuals who might have to sell equipment to make rent.
Agree. It makes me wonder how many of those same vultureistic opportunists are the same ones that bad mouth Guitar Center (and others, of course) for their corporate greed.
 

Pyritez

Member
Messages
283
So they restructure some debt...big deal. I *like* Guitar Center, and see room for both them *and* local music stores. I sure use both. Haters gonna hate. Or "They hate us 'cause they aint us!" ...or something like that.
 

sunburst79

Member
Messages
1,310
It’s basically the same story that trotted out every couple of years since what? The mid 2000’s?

The comments are always the same.

I don’t think anyone in the industry wants to see them go under. That’s why they keep extending debt.

GC doesn’t have much I’m interested in. Most of my buys are used gear that take place on eBay and Reverb and CL. And I don’t Need anything. I’ve been happy with what I have for years now.

I’ve watched a slow decline in service and the inventory of of things I’m personally interested in since the early 00’s. It stopped being a fun place to shop decades ago.

If you want to support your local mom and pop music store. By all means do so. But GC does not need to go under to make that happen.

As noted there will be a ripple effect if they were to truly go defunct and basically we all lose. The fictional mom and pop might benefit. But we will all pay for the default in some way or another in higher gear prices. The costs must be absorbed somewhere.

Amazon and other internet store fronts offer you even less in they way of service. Low prices are always nice. But come at a cost.

So there’s advantages to physical brick and mortar when shopping for something as personal as a guitar. There is a lot to be said for laying your hands on the actual guitar your considering buying.

There’s very little to be gained by losing a local business. Even if the headquarters are elsewhere.

I’d like to see them survive and fix the issues rather than go under or go under and take others down with them.

Is this debt extension different than the last ones? Who knows. Is it the last one. Who knows.

Best case is they file and reorganize and the knock on effect is small.

Worse case is that the creditors are forced to write off more than they can afford and get dragged down the tubes also.

I feel the glee and ill will is misplaced. No one wins.

Like anything else your money is always welcome elsewhere. They don’t need to file or potentially go under to satisfy your need for vindication. Don’t like the company? Shop someplace you like.
 
Messages
571
We're all just hanging out for the liquidation sale
I have never seen one that didn't suck. They'll mark everything up to MSRP that was selling at MAP, then slow bleed it 10 - 20 - 30% off and by the time it hits MAP a half million suckers will have bought the good stuff thinking they scored the deal of a lifetime.

At least that's my experience with every other liquidation.
If you want to buy 250 guitar stands you probably can score a hell of a deal though.
 




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