Guitar Centre Not Doing Well According To This

Discussion in 'Guitars in General' started by skunizzi, Dec 7, 2017 at 11:00 AM.


  1. skunizzi

    skunizzi Supporting Member

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    Looks like Guitar Center is fighting an uphill battle to stay in business according to the link below.

     
    Last edited: Dec 7, 2017 at 12:54 PM
  2. Marshall_Stack

    Marshall_Stack Member

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    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 at 9:18 AM
  3. smallbutmighty

    smallbutmighty Supporting Member

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    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.
     
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  4. sleewell

    sleewell Member

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    hey its this months version of this thread. sweet.
     
  5. Jon Silberman

    Jon Silberman 10Q Jerry & Dickey Gold Supporting Member

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    Hey - don't be snarky. Where would TGP be without our monthly dose of "GC is closing?" :p
     
  6. FenderBigot

    FenderBigot Supporting Member

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    We would just move our attention to Sam Ash... they're clearly next! LOL
     
  7. FennRx

    FennRx Member

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    Op, I also heard gibson is about to go out of business
     
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  8. stahlhart

    stahlhart Supporting Member

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    Well, you spelled it "re", so we're only talking about the Canadian stores, right?
     
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  9. captwillard

    captwillard Member

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  10. prodrigu

    prodrigu Supporting Member

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    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.
     
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  11. CharAznable

    CharAznable Member

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    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
     
  12. mikesch

    mikesch Gold Supporting Member

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    GC has been going out of business for 15 years.
     
  13. Wesman61

    Wesman61 Member

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    Sad to hear about this. I'm curious if it's about GC or the popularity of musical instruments as a whole.
     
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  14. Bluzeboy

    Bluzeboy Gold Supporting Member

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    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

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    Heresy on this forum.
     
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  16. chandlerman

    chandlerman Supporting Member

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    [​IMG]
     
  17. smallbutmighty

    smallbutmighty Supporting Member

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    You would think they would be better at it by now.
     
  18. ellsworthman

    ellsworthman Silver Supporting Member

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    Fixed.
     
  19. FlyingVBlues

    FlyingVBlues Gold Supporting Member

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    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 at 1:23 PM
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  20. Brad8008135

    Brad8008135 Member

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    That's ok. I'm still working on NOS from Mars Music. I'll be fine until 2027.

    [​IMG]
     

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