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Guitar Center filing for bankruptcy (not a deal)


Matthew Sorrels

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Got an email from them this morning (and a 16% off coupon only good on non-sales stuff excluding every manufacturer you'd buy from)

Quote

Thank you for being a loyal customer of Guitar Center. We genuinely appreciate your business.

I'm pleased to share that the Guitar Center Company has announced an agreement to strengthen our financial structure which will allow us to serve you better for the long term. During this time there is likely to be press coverage, so we wanted you to hear from us what to expect.

Our stores, e-commerce, lessons and call centers are open and available to you as we continue to operate our business as usual.
 

We will continue to serve your needs as usual, therefore, customer service, financing with your GC Card and Pro Coverage remain unaffected.

To facilitate this financial process, we will voluntarily file for restructuring under Chapter 11 which we expect to complete quickly. During this time, we will continue all of our operations without interruption.

Most importantly, we are staying focused on helping more customers make music. We continue to have the gear you want and need, with new gear arriving regularly and we are here to support your holiday shopping needs as we have exciting holiday promotions ready for you.

If you have questions or concerns please feel free to email us at service@guitarcenter.com or call us at 866-498-7882.

Ron Japinga
Chief Executive Officer
The Guitar Center Company

More on the deal:

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

 

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Yeah, I miss Tower Records a lot. Guitar Center? My guess is that they’ll successfully  ....err....restructure their debt (again) under Chapter 11 and rise again like Phoenix from the ashes to continue offering their ubiquitous 15 per cent off MAP holiday “deals”.

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3 hours ago, InstrEd said:

Thanks for bringing back memories. I spent quite a time in Tower Records and yes I did buy plenty of LP's,  cassettes.    But I can say I never did buy any
eigth-tracks from here.

No surprised by this at all. Up here in Canaki we have two main music instrument store chains. I could tell the days of strolling into the store to try out guitars and stuff and pickup strings was coming to an end long time  ago. I have all my main brand of strings in my Amazon watch list and when they go on sale, i click buy. Even at regular price, the Amazon strings are still cheaper than the store prices. It makes no business sense to pay rent and run a music story that caters to only one type of customer  in the current reality of the world.  I imagine many people that work at music instrument stores probably had zero work hours over last 9 months.

 

I do miss the music store shopping experience. We had Sam the Record man up here. It was a fun way to kill an entire afternoon. You go in there and disappear looking at different music sections and usually pickup something after killing 2 or 3 hours hanging out. I feel back for teens and young people these days. They don't get to experience that anymore. :(

 

 

Edited by telecode 101
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3 hours ago, emeraldsoul said:

What's next, Tower Records?

b61fbf02d3522b1d39ea3854b24073a8.jpg

I bought Abbey Road on the day it was released from that there store (assuming it was on Sunset Blvd. which is what it looks like).

 

My buddy had a battery powered record player and we listened to in the car before going home and putting it on the "big box" for full effect.

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4 hours ago, emeraldsoul said:

What's next, Tower Records?

b61fbf02d3522b1d39ea3854b24073a8.jpg

 

53 minutes ago, Fleer said:

Got some really great deals from the Guitar Center near Berklee, among them a new Alesis Fusion for $500 or so. 

Ahh....and just down the street a bit ...from that GC, until a few years ago, was the iconic EU Wurlitzer. Best musical instrument store I’ve been in before or since.(allowing ,of course, for my adolescent and teenage nostalgia:)

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58 minutes ago, Fleer said:

Oh man, Tower Records in Cambridge. Gone forever. Luckily we still had Newbury’s. And those great dogs in Charlie’s Kitchen. Best dogs ever. 

I worked for about 2 years in the record dept. at the Coop. Possibly the most fun job I ever had:)

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1 hour ago, LAGinz said:

I worked for about 2 years in the record dept. at the Coop. Possibly the most fun job I ever had:)

Wow. Loved that place. Good book department too. But I got most of my records from Newbury’s in The Garage. And its sister store in Newbury Street. 

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7 hours ago, Bapu said:

I bought Abbey Road on the day it was released from that there store (assuming it was on Sunset Blvd. which is what it looks like).

 

My buddy had a battery powered record player and we listened to in the car before going home and putting it on the "big box" for full effect.

It is indeed Sunset

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The Tower Records in the photo  looks like one in San Francisco.  There's a sign in the foreground which says "North Beach"  and the top of the distinctive TransAmerica building is in the background.  That store was several blocks from Fisherman's Wharf.  I only visited it a couple times.   Perhaps, the photo is a montage!   Or mirage 🙂.  Many Tower stores had a similar facade.  I  bought a lot of LPs and CDs from other Tower locations. 

Drifting away from the original topic ...

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