Page 1 of 3 123 LastLast
Results 1 to 25 of 51

Thread: Guitar Center

  1. #1
    Registered User Billy Packard's Avatar
    Join Date
    Mar 2011
    Location
    Grass Valley
    Posts
    885

    Default Guitar Center

    I received an email from GC indicating they were going into chapter 11.
    Billy Packard
    Gilchrist A3, 1993
    Stiver Fern, 1990
    Weber Fern, 2007
    Gibson F4 Hybrid #1, D. Harvey 2009
    Gibson 1923 A2
    Numerous wonderful guitars

  2. #2
    Worlds ok-ist mando playr Zach Wilson's Avatar
    Join Date
    Nov 2015
    Location
    Auburn, Washington
    Posts
    1,553

    Default Re: Guitar Center

    I found an article online. Sorry its riddled with advertising in between every paragraph. Such is the way of the world now.

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

  3. #3
    Moderator MikeEdgerton's Avatar
    Join Date
    Mar 2007
    Location
    Howell, NJ
    Posts
    26,874

    Default Re: Guitar Center

    I haven't seen the e-mail yet but in the past few days this article was posted online:

    https://msretailer.com/guitar-center...06_g8abScCsys0

    as well as this one:

    https://msretailer.com/bloomberg-aga...er-bankruptcy/

    and this notice is on their website at the bottom under restructuring:

    https://www.guitarcenter.com/restructuring
    "It's comparable to playing a cheese slicer."
    --M. Stillion

    "Bargain instruments are no bargains if you can't play them"
    --J. Garber

  4. #4
    Registered User Eric Platt's Avatar
    Join Date
    Jan 2009
    Location
    St. Paul, MN
    Posts
    2,044

    Default Re: Guitar Center

    Mike, thanks for that last link. Hadn't noticed it before. What's strange is I got a cold call from GC this past week hoping I would buy something. Was guessing they were/are trying to push sales to lower inventory before filing Chapter 11.

    Just wonder how many stores they will end up closing? We have four in the Twin Cities metro area at present. All within about 20 miles of each other.
    Brentrup Model 23, Boeh A5 #37, Gibson A Jr., Big Muddy M-11, Coombe Classical flattop, Strad-O-Lin
    https://www.facebook.com/LauluAika/
    https://www.lauluaika.com/
    https://www.facebook.com/Longtine-Am...14404553312723

  5. #5

    Default Re: Guitar Center

    No worries, my prediction is that they will still be around 100 years from now, along with Gibson, General Motors, etc........

  6. #6
    Registered User
    Join Date
    Nov 2002
    Location
    So Oregon
    Posts
    1,010

    Default Re: Guitar Center

    So, what's new. They, and Chrysler need to go away.

  7. #7
    Worlds ok-ist mando playr Zach Wilson's Avatar
    Join Date
    Nov 2015
    Location
    Auburn, Washington
    Posts
    1,553

    Default Re: Guitar Center

    Quote Originally Posted by Jeff Hildreth View Post
    So, what's new. They, and Chrysler need to go away.
    Although I don't have any need for GC now, I certainly did when I was a young, aspiring musician and my parents had no idea what and/or where to buy my first guitar. After working at a GC (Tukwila store) for a bit in my 20s I know this isn't just my experience. A lot of new musicians rely upon GC.

    I hope they stay to provide just that service.

  8. #8
    Registered User
    Join Date
    Jan 2009
    Location
    S.W. Wisconsin
    Posts
    7,507

    Default Re: Guitar Center

    Any store that sells instruments that are not set up to play well is not helping a young musician starting out, unless they are helping them to not play music because their instrument plays so hard or out of tune.
    THE WORLD IS A BETTER PLACE JUST FOR YOUR SMILE!

  9. The following members say thank you to pops1 for this post:


  10. #9
    Registered User slimt's Avatar
    Join Date
    Nov 2015
    Location
    Alberta
    Posts
    591

    Default Re: Guitar Center

    I was in a GC many years ago in Washington state. It was also the last time. No knowledge of anything by the staff. No help. No clue. So not a loss.

  11. #10

    Default Re: Guitar Center

    Not a huge surprise, because of the LBO a few years back (to me leveraged buyouts are an insanity where the bought company assumes the debt for being acquired). GC instantly took on a few billion in debt, right about the time growth had stalled. Now with the last year of reduced economic activity it's no surprise. I have never been a GC hater and bought lots of things from them over the years (I go elsewhere for setups though).

    If they come out with less debt maybe its a good thing. Gotta give them credit for lasting this long.

    And once they get rid of some debt they will be ripe for another LBO...
    Davey Stuart tenor guitar (based on his 18" mandola design).
    Eastman MD-604SB with Grover 309 tuners.
    Eastwood 4 string electric mandostang, 2x Airline e-mandola (4-string) one strung as an e-OM.
    DSP's: Helix HX Stomp, various Zooms.
    Amps: THR-10, Sony XB-20.

  12. #11
    Moderator MikeEdgerton's Avatar
    Join Date
    Mar 2007
    Location
    Howell, NJ
    Posts
    26,874

    Default Re: Guitar Center

    Quote Originally Posted by Jeff Mando View Post
    No worries, my prediction is that they will still be around 100 years from now, along with Gibson, General Motors, etc........
    I agree, I don't think they're automatically gone by any means and I do hate to see people lose their job at a time like this. I've been there.
    "It's comparable to playing a cheese slicer."
    --M. Stillion

    "Bargain instruments are no bargains if you can't play them"
    --J. Garber

  13. #12
    Registered User John Flynn's Avatar
    Join Date
    Oct 2002
    Location
    Richmond, VA
    Posts
    8,076

    Default Re: Guitar Center

    Quote Originally Posted by MikeEdgerton View Post
    I agree, I don't think they're automatically gone by any means and I do hate to see people lose their job at a time like this. I've been there.
    And what will all those 16 year old kids do who shred with the amp on 11 in GC all day long? They'll be out on the streets and may get into trouble!

  14. #13
    Moderator MikeEdgerton's Avatar
    Join Date
    Mar 2007
    Location
    Howell, NJ
    Posts
    26,874

    Default Re: Guitar Center

    I have been rebuilding and modifying electric guitars for my son and myself for the last few weeks. You can buy knobs for Gibson and Fender guitars that look like the normal stock vintage knobs except they go up to 11. I passed but thought it was cute.
    "It's comparable to playing a cheese slicer."
    --M. Stillion

    "Bargain instruments are no bargains if you can't play them"
    --J. Garber

  15. The following members say thank you to MikeEdgerton for this post:


  16. #14
    Registered User
    Join Date
    Oct 2018
    Location
    New Jersey, USA
    Posts
    589

    Default Re: Guitar Center

    Quote Originally Posted by MikeEdgerton View Post
    I have been rebuilding and modifying electric guitars for my son and myself for the last few weeks. You can buy knobs for Gibson and Fender guitars that look like the normal stock vintage knobs except they go up to 11. I passed but thought it was cute.
    A classic case of taking on too much debt ($1.3B). I have no love for GC but I dont want folks to lose their jobs. Sales were solid during COVID so maybe if the re-negotiate their debt they can come back.

  17. #15
    Registered User
    Join Date
    Oct 2018
    Location
    New Jersey, USA
    Posts
    589

    Default Re: Guitar Center

    Quote Originally Posted by John Flynn View Post
    And what will all those 16 year old kids do who shred with the amp on 11 in GC all day long? They'll be out on the streets and may get into trouble!
    The is the time to convert them to mandolin players!

  18. #16

    Default Re: Guitar Center

    Quote Originally Posted by Jeff Hildreth View Post
    So, what's new. They, and Chrysler need to go away.
    Chrysler owns Jeep. If GC had a brand as strong it would be better situated financially.

    As for GC, they have been cut off from some of their suppliers and some are no longer willing to sell to them. At this point, once they enter Ch 11 they will have to pay for all new inventory COD. They are going to have to raise some operating cash to do this.

    What they need is a new business model and to consolidate down to one business entity. Unfortunately, that means people are going to lose their jobs.
    "your posts ... very VERY opinionated ...basing your opinion/recommendations ... pot calling ...kettle... black...sarcasm...comment ...unwarranted...unnecessary...."

  19. #17
    Moderator MikeEdgerton's Avatar
    Join Date
    Mar 2007
    Location
    Howell, NJ
    Posts
    26,874

    Default Re: Guitar Center

    Quote Originally Posted by Mandobar View Post
    Chrysler owns Jeep. If GC had a brand as strong it would be better situated financially.

    As for GC, they have been cut off from some of their suppliers and some are no longer willing to sell to them. At this point, once they enter Ch 11 they will have to pay for all new inventory COD. They are going to have to raise some operating cash to do this.

    What they need is a new business model and to consolidate down to one business entity. Unfortunately, that means people are going to lose their jobs.
    I believe part of the renegotiated debt included an infusion of money from someone.

    There it is:

    The potential filing follows weeks of negotiations between Guitar Center and its creditors, and certain investors are set to provide new capital to the company to help it restructure.
    That would have to end up being true I guess.
    "It's comparable to playing a cheese slicer."
    --M. Stillion

    "Bargain instruments are no bargains if you can't play them"
    --J. Garber

  20. #18
    Teacher, repair person
    Join Date
    Oct 2017
    Location
    Southeast Tennessee
    Posts
    4,077

    Default Re: Guitar Center

    GC's problems have been going on since 2007. This will be the 3rd time that investors or a management group has come along and rescued the house of cards.
    The non sequitur has been that they have always continued to open new stores, some of them in places where the market may be too small to pay the bills.
    One would think that sooner or later, they would begin closing locations that aren't making a profit, but so far, this has not yet happened.
    We'll have to wait and see if that changes. I can think of one major manufacturer who will take a significant hit if GC downsizes.

  21. The following members say thank you to rcc56 for this post:


  22. #19
    Registered User tooloud's Avatar
    Join Date
    Mar 2020
    Location
    Richmond, Tx
    Posts
    24

    Default Re: Guitar Center

    I got the email from both Guitar Center and Muscian's Friend.
    Eastman MD515
    Kentucky KM-180S
    Kentucky KM-252
    Rogue RM-100A crash test dummy mandolin,

  23. #20
    ************** Caleb's Avatar
    Join Date
    Nov 2006
    Location
    DFW, Texas
    Posts
    3,676

    Default Re: Guitar Center

    I like GC and wish them well. I’ve been going in there since I was 18 and started playing guitar. Lots of good memories, not just for me but for millions like me. I also don’t go in there expecting or needing knowledge from their staff, though I realize some people do. I’ve helped a few people while browsing in there over the years, and I’ve witnessed a lot of it from others. Most people are generally pretty cool in a guitar shop. It’s kind of hard to be in a bad mood in a toy store.
    ...

  24. The Following 2 Users Say Thank You to Caleb For This Useful Post:


  25. #21
    Confused... or?
    Join Date
    Dec 2008
    Location
    Over the Hudson & thru the woods from NYC
    Posts
    2,927

    Default Re: Guitar Center

    Mixed feelings here. I've bought various stuff, mostly minor but more than one used amp and guitar, from the Totowa NJ store. One or two excellent employees - you could tell who by the over-40 crowd going straight to them, and they generated lots of interesting trade-ins. Then there was similar-size Victors House of Music in Paramus, NJ. Different selection from GC, good staff, lots of artist clinics (got to meet Artie Traum there). The day that THEY suddenly became "just another GC" 8 or 10 years ago, minus the more interesting characters, was definitely a low point.
    - Ed

    "Then one day we weren't as young as before
    Our mistakes weren't quite so easy to undo
    But by all those roads, my friend, we've travelled down
    I'm a better man for just the knowin' of you."
    - Ian Tyson

  26. #22
    Moderator MikeEdgerton's Avatar
    Join Date
    Mar 2007
    Location
    Howell, NJ
    Posts
    26,874

    Default Re: Guitar Center

    Quote Originally Posted by tooloud View Post
    I got the email from both Guitar Center and Muscian's Friend.
    Same company so that makes sense.
    "It's comparable to playing a cheese slicer."
    --M. Stillion

    "Bargain instruments are no bargains if you can't play them"
    --J. Garber

  27. #23
    Moderator MikeEdgerton's Avatar
    Join Date
    Mar 2007
    Location
    Howell, NJ
    Posts
    26,874

    Default Re: Guitar Center

    Quote Originally Posted by EdHanrahan View Post
    Mixed feelings here. I've bought various stuff, mostly minor but more than one used amp and guitar, from the Totowa NJ store. One or two excellent employees - you could tell who by the over-40 crowd going straight to them, and they generated lots of interesting trade-ins. Then there was similar-size Victors House of Music in Paramus, NJ. Different selection from GC, good staff, lots of artist clinics (got to meet Artie Traum there). The day that THEY suddenly became "just another GC" 8 or 10 years ago, minus the more interesting characters, was definitely a low point.
    The one in Totowa does seem to have some interesting trade-ins. Much better than East Brunswick or Neptune stores ever seem to have.
    "It's comparable to playing a cheese slicer."
    --M. Stillion

    "Bargain instruments are no bargains if you can't play them"
    --J. Garber

  28. #24
    coprolite mandroid's Avatar
    Join Date
    Oct 2002
    Location
    Outer Spiral Arm, of Galaxy, NW Oregon.
    Posts
    17,103

    Default Re: Guitar Center

    GC ran the Brick & Mortar stores, Musician's Friend the warehouse Mail Order/online business .
    Out of Medford Oregon , Rogue river (used as a Brand) flows just north of the city.
    writing about music
    is like dancing,
    about architecture

  29. #25
    Barn Cat Mandolins Bob Clark's Avatar
    Join Date
    Mar 2011
    Location
    Beautiful Salem County, NJ
    Posts
    2,004

    Default Re: Guitar Center

    While I much prefer Mom and Pop music stores, I hate to see ANY music store in financial straits. Whenever any music store closes, it's one less location offering the 'musically curious' a place to get their first taste. I believe individuals and society benefits when more people play music regardless of genre or instrument. While they would most likely be better served by a local Mom and Pop, almost any exposure/opportunity is better than none. They might find the local Mom and Pop when they gain experience.

    I just hate to see music stores close. To my mind, music stores equal opportunity, and the benefits of playing music are immeasurable.
    Purr more, hiss less. Barn Cat Mandolins Photo Album

  30. The Following 3 Users Say Thank You to Bob Clark For This Useful Post:


Bookmarks

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •