Guitar Centre Not Doing Well According To This

Discussion in 'Guitars in General' started by skunizzi, Dec 7, 2017.

  1. skunizzi

    skunizzi Member

    Messages:
    926
    Joined:
    Oct 27, 2010
    Looks like Guitar Center is fighting an uphill battle to stay in business according to the link below.

     
    Last edited: Dec 7, 2017
  2. Marshall_Stack

    Marshall_Stack Lordy Mama light my fuse Silver Supporting Member

    Messages:
    3,193
    Joined:
    Jun 19, 2012
    Location:
    Remember Durango Larry?
    It is speculative AF.
    Going from CCC+ to CCC- signals death in the credit markets.
    But that doesn't mean stores will close.
    Revenue is not covering debt payments - so it could be a hard reorg.
     
    Last edited: Dec 8, 2017
  3. smallbutmighty

    smallbutmighty Member

    Messages:
    7,461
    Joined:
    Oct 13, 2004
    Location:
    Seattle
    No real surprise. All it takes is a walk through a store to see they are struggling.

    The one nearest me just remodeled, and put in a bunch of lesson studio booths, which are always empty. Front and center when you walk in is an island full of kazoos, egg shakers, recorders, penny whistles, and nose flutes.

    The guitar wall is packed with any guitar you could wish for....under $399. But....at least they are all out of tune and covered with crud.
     
  4. sleewell

    sleewell Member

    Messages:
    7,909
    Joined:
    Sep 10, 2012
    Location:
    Michigan
    hey its this months version of this thread. sweet.
     
  5. Jon Silberman

    Jon Silberman 10Q Jerry & Dickey Gold Supporting Member

    Messages:
    36,121
    Joined:
    Jan 3, 2002
    Location:
    Northern VA
    Hey - don't be snarky. Where would TGP be without our monthly dose of "GC is closing?" :p
     
  6. FenderBigot

    FenderBigot Supporting Member

    Messages:
    20,989
    Joined:
    Mar 12, 2008
    Location:
    Tampa Bay
    We would just move our attention to Sam Ash... they're clearly next! LOL
     
    coltonius, Floyd Eye, Tag and 2 others like this.
  7. FennRx

    FennRx Member

    Messages:
    1,042
    Joined:
    Feb 3, 2010
    Op, I also heard gibson is about to go out of business
     
    PartoftheDark, jrjones, jpage and 8 others like this.
  8. stahlhart

    stahlhart Member

    Messages:
    2,272
    Joined:
    Sep 2, 2016
    Well, you spelled it "re", so we're only talking about the Canadian stores, right?
     
    Synex7254, AZJim, the_sauce and 3 others like this.
  9. captwillard

    captwillard Member

    Messages:
    789
    Joined:
    Sep 9, 2009
    What is Guitar Centre?
     
    zeffbeff, Dr.Lee, the_sauce and 7 others like this.
  10. prodrigu

    prodrigu Supporting Member

    Messages:
    322
    Joined:
    Jul 1, 2007
    It's pretty sad. First we saw lots of small shops close and now the big ones are going too. I do miss the days when GC had a great selection.

    Glad to see a few small (usually boutique) shops are thriving though. There is one of them pretty close to my house which started as an online retailer (and still is 99%) but I can walk-in and browse their stuff anytime. Two employees take care of everything.
     
    Dr.Lee and jrjones like this.
  11. CharAznable

    CharAznable Member

    Messages:
    14,253
    Joined:
    Aug 26, 2008
    Location:
    Leesburg, VA
    Where you pay for your gear in quid and then load it up in the boot of your car and then head somewhere for tea
     
    richnrbq, Agramal, coltonius and 33 others like this.
  12. mikesch

    mikesch Gold Supporting Member

    Messages:
    336
    Joined:
    Nov 17, 2005
    Location:
    Northern California
    GC has been going out of business for 15 years.
     
  13. Wesman61

    Wesman61 Member

    Messages:
    4,028
    Joined:
    Nov 9, 2004
    Sad to hear about this. I'm curious if it's about GC or the popularity of musical instruments as a whole.
     
    PRSAtomic likes this.
  14. Bluzeboy

    Bluzeboy Gold Supporting Member

    Messages:
    5,572
    Joined:
    Jul 31, 2006
    Maybe if they stopped their idiotic return policy so every jerk wouldn’t get something just to try it out for a month they would make a buck or two.

    There, yes I said it.
     
  15. Heinz57Pep

    Heinz57Pep Member

    Messages:
    10,639
    Joined:
    Jun 19, 2013
    Heresy on this forum.
     
    PartoftheDark, Balok and JasonElGato like this.
  16. chandlerman

    chandlerman Supporting Member

    Messages:
    1,104
    Joined:
    May 27, 2009
    Location:
    SLO CA
    [​IMG]
     
  17. smallbutmighty

    smallbutmighty Member

    Messages:
    7,461
    Joined:
    Oct 13, 2004
    Location:
    Seattle
    You would think they would be better at it by now.
     
  18. ellsworthman

    ellsworthman Silver Supporting Member

    Messages:
    10,742
    Joined:
    Mar 12, 2014
    Fixed.
     
  19. FlyingVBlues

    FlyingVBlues Gold Supporting Member

    Messages:
    4,400
    Joined:
    Mar 20, 2002
    Location:
    Virginia & Cortona Italia
    I think that Guitar Center's creditors would initially support an attempt to reorganize the company under a Chapter 11 bankruptcy filing, rather than a liquidation of all assets under a Chapter 7 bankruptcy. However, given its almost $2 billion in debt and flat sales throughout most of the musical instrument industry I don't think Guitar Center has a long-term future. If Guitar Center does ultimately fail the financial repercussions for companies like Fender and Gibson may be devastating. And since Musicians Friend, Music 123, Music & Arts, Woodwind and Brasswind and Lyons Music are all wholly owned subsidiaries of Guitar Center they will probably go down with the ship too. A lot of people working in musical instrument retail sales are going to be in for a rough time.
     
    Last edited: Dec 7, 2017
    IAm MI and willyboy like this.
  20. Brad8008135

    Brad8008135 Member

    Messages:
    1,653
    Joined:
    Mar 25, 2015
    Location:
    Down on Peachtree Street
    That's ok. I'm still working on NOS from Mars Music. I'll be fine until 2027.

    [​IMG]
     
    Black Coffee, DiPa, Mr.db and 26 others like this.

Share This Page