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Daddy's Junky Music closing all stores

I certainly bought a lot of great used gear over the years- they had such a cool thing going with that used gear basement right across from Berklee. I once bought a Taylor 12 string with a stripped truss rod for $300, strung it up as a 6 string and played about a thousand gigs on it. It was my main songwriting guitar for 15 years until I got my Gibson. I finally put a new 12 string neck on the Taylor 5 years ago for $200 and it's a phenomenal guitar.

Really sad that this local institution joins EU Wurlitzer, LaSalle, Jack's Drum Shop and Cambridge Music.
 
Really sad that this local institution joins EU Wurlitzer, LaSalle, Jack's Drum Shop and Cambridge Music.
HA! EU Wurlitzer! That's the place where you'd stand there while too-cool clerks had important conversations with each other. Cambridge Music was a great store, I knew Wendel, the owner. Jack's was Super good. LaSalle...was that in the Wurlitzer spot for a minute, or in Revere?

MR MUSIC still stands! Come to Harvard Av., Allston and buy stuff.
 
I bought a '64 telecaster at the store in Norwalk in about 1974 from Fred himself. Nice guy. Let me pay it off on time and come in and play it whenever. I think it was $160 + tax. Probably took me a whoel summer of mowing lawns to earn it.

The Milford store had some really useless characters working in it but I bought quite a few things in the last 2-3 years from them, usually from one really good guy. Sorry to see that chain go down the tubes.

--Kevin
 
Huh....???




Why would you wish any store to go out of business? If you don't like a place, don't go there. Simple as that.

If you are going to quote me on something...quote the whole sentence.

Guitar Center is another one I wish would just close up, there location on Rt2 in Warwick is probably the single most useless store I have ever been in....and no longer visit thanks to there great sales staff
 
To All:

I was a store manager with Daddy's for nearly two years, and recently left the company when they closed the Albany, NY location.

I spoke with the VP and DM for Daddy's this morning. Suffice to say that, even right up to the CEO, nobody saw this coming as of last week. The bottom line is, Daddy's was fighting a losing battle for the past 4 years, and the last nail in the coffin may have been the commercial credit crunch.

Sadly, it's very likely that all of the inventory will be liquidated by a 3rd party.... and we, the musicians.... the people that Fred Bramante, Bobby Baker, Chris Gleason and others spent their lives and built their business around serving, will probably never even have a chance to get at it.

Its really heartbreaking..... and more than one of the people whom I spoke with this morning was reduced to tears during our conversation. This company was a vision.... a dream shared by some very special and very remarkable people... and that dream has been shut down and locked up.

It is a very sad day.
 
smcd said:
Huh....???

Why would you wish any store to go out of business? If you don't like a place, don't go there. Simple as that.

I suppose a case could be made for Guitar Center and their Wal Mart approach being the main culprit in driving all the cool mom and pop music stores out if business. Though, as you note, it's ultimately the consumers who decide these things by where they spend their money.
 
I NEED HELP!

I bought a GK 800RB from Daddy's in Springfield, MA a couple weeks ago. I brought it home and the 300W output didn't work. I brought it back in the following week for repair. They sent it out and then I found out this morning that they've gone bankrupt. I've tried calling the store itself along with every department at corporate, but no one is answering the phones. I need my head and I don't know how to get it back. Does anyone have any suggestions? Any help would be greatly appreciated!

This was in the article in the Nashua paper -
"Hundreds of people have posted on the company’s Facebook page since the news broke, including many posting sad messages or memories and others asking about issues with unspent gift cards or unfilled orders.

Bramante advised anyone with questions to call the company’s headquarters in Manchester and to be patient"
 
This was in the article in the Nashua paper -
"Hundreds of people have posted on the company’s Facebook page since the news broke, including many posting sad messages or memories and others asking about issues with unspent gift cards or unfilled orders.

Bramante advised anyone with questions to call the company’s headquarters in Manchester and to be patient"

All customer repairs etc will be completed and mailed back within 10 business days. Gift cards and deposits on orders will all be sorted out. Everyone please be clear and understand THIS WAS NOT SOMETHING THE COMPANY SAW COMING. They were shut down from outside, not from within. The few staff who will be staying on to sort these issues out will be doing so without pay, and they have a load on their plates I doubt we can even imagine....
 
Customer service is king. While fickle buyers who waste the time of brick and mortar shops only to buy online are a factor, the reality is that great customer service will keep people coming in the door and spending money.

I don't buy the "fickle buyers" line (no pun intended). Buying your gear from one venue rather than another is not a moral obligation like voting or going to church. The free market runs on the assumption that the buyer is free to choose the product he wants for the best price he can get it for. If someone opens a store they are betting that they can deliver that and no crying allowed if it turns out they are wrong. Customer service is one value a traditional store can offer and I never had any problem with the service at the two Daddy's I've used (Manchester and Portsmouth).

I was never a big-ticket buyer; the things I bought at Daddy's (and other brick-and-mortar stores) were straps, cables, stands, things like that. Bigger items I most often got used from CL, or they were gifts. For the bigger items like new basses and amps that are on my wishlist to get eventually, Daddy's had items that I would have wanted at the same price that I would have paid for them online, and no shipping cost or wait. Aside from the free market, I'm not persuaded that this is the result of online competition or "fickle buyers."

I think it's that, in the current economy, people are not buying at the same pace as they did in better times. With paying gigs drying up, musicians decide they can put off replacing that cymbal or that they don't really need a seventh bass right now, or maybe that they can make do with an MIM Fender rather than getting the MIA. Not only that, but to judge by CL a lot of musicians are thinning their herds and the stores depending on new gear sales DO have to compete with used gear that's half or two-thirds the price. A big box store or a website without all the retail overhead can weather that better than a brick-and-mortar.
 
If you are going to quote me on something...quote the whole sentence.

Guitar Center is another one I wish would just close up, there location on Rt2 in Warwick is probably the single most useless store I have ever been in....and no longer visit thanks to there great sales staff

I reiterate - why would you wish any store to close? If you don't like it there, don't shop there.
 
I NEED HELP!

I bought a GK 800RB from Daddy's in Springfield, MA a couple weeks ago. I brought it home and the 300W output didn't work. I brought it back in the following week for repair. They sent it out and then I found out this morning that they've gone bankrupt. I've tried calling the store itself along with every department at corporate, but no one is answering the phones. I need my head and I don't know how to get it back. Does anyone have any suggestions? Any help would be greatly appreciated!

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According to Fred Bramante, you need to contact them at the Manchester location it looks like.

I would do so by phone with a copy in writing to preserve any claims and rights you have to your amp as an unsecured creditor at this point. I would also send that claim certified, receipt requested. That way, you have a paper trail. Also be sure to keep any paperwork you received on your repair such as a receipt.

If he files for Chapter 11 reorganization or Chapter 7 liquidation, you want to have the claim on file and documented with the Court Trustee and this paperwork helps you document your claim. A sales receipt for the amp showing where you bought it and the serial number would be very good to have as well. If he has a secured creditor, such as a bank, they can sell any of his assets to cover any money he owes. If you can prove you own the amp, you get it excluded from his assets.

This ain't gonna happen overnight.

If Fred hasn't filed, and says 'Come get it,' then get in your car and go get it. Now.

Fred doesn't sound like a bad guy. I am sure you aren't the only one whose stuff is in for repair. You need to be sure he knows what is yours as that info may not be readlily available to him. Sounds like he has a bunch of issues to deal with though.

Good luck.

Edit: Just saw Pablomigraines post up there. Note the possible 3rd party liquidation. All the more reason to document your claim to the goods. A third party can't liquidate something they can't legally claim as an asset in their favor. However, the fact that it is sitting in Daddy's warehouse will allow them to presume ownership unless there is a claim to the contrary. Usually a legal notice is required calling for the claims. Not something you would see in Western MA, so see what info you can dig up on it.

Third party liquidation is usually farmed out by the Trustee or Receiver who is an agent of the local court. If his bank forced him into liquidation, there will be a Receiver involved.

If there is not a bankruptcy yet, there can't be a forced liquidation. Fred can voluntarily liquidate and pay any notes and settle without bankruptcy proceedings if his bank agrees. Another reason to DOCUMENT YOUR CLAIM.
 
Invalid Link Removed


According to Fred Bramante, you need to contact them at the Manchester location it looks like.

I would do so by phone with a copy in writing to preserve any claims and rights you have to your amp as an unsecured creditor at this point. I would also send that claim certified, receipt requested. That way, you have a paper trail. Also be sure to keep any paperwork you received on your repair such as a receipt.

If he files for Chapter 11 reorganization or Chapter 7 liquidation, you want to have the claim on file and documented with the Court Trustee and this paperwork helps you document your claim. A sales receipt for the amp showing where you bought it and the serial number would be very good to have as well. If he has a secured creditor, such as a bank, they can sell any of his assets to cover any money he owes. If you can prove you own the amp, you get it excluded from his assets.

This ain't gonna happen overnight.

If Fred hasn't filed, and says 'Come get it,' then get in your car and go get it. Now.

Fred doesn't sound like a bad guy. I am sure you aren't the only one whose stuff is in for repair. You need to be sure he knows what is yours as that info may not be readlily available to him. Sounds like he has a bunch of issues to deal with though.

Good luck.

Edit: Just saw Pablomigraines post up there. Note the possible 3rd party liquidation. All the more reason to document your claim to the goods. A third party can't liquidate something they can't legally claim as an asset in their favor. However, the fact that it is sitting in Daddy's warehouse will allow them to presume ownership unless there is a claim to the contrary. Usually a legal notice is required calling for the claims. Not something you would see in Western MA, so see what info you can dig up on it.

Third party liquidation is usually farmed out by the Trustee or Receiver who is an agent of the local court. If his bank forced him into liquidation, there will be a Receiver involved.

If there is not a bankruptcy yet, there can't be a forced liquidation. Fred can voluntarily liquidate and pay any notes and settle without bankruptcy proceedings if his bank agrees. Another reason to DOCUMENT YOUR CLAIM.

I am a reporter at a business newspaper and have covered a lot of bankruptcies, and I have to second this poster's advice.

A company can very easily be forced into default when times are tough -- oftentimes, agreements with its lenders have certain cash-flow covenants that govern when the lender can "call in" a loan. If the loan can't be immediately repaid, the lender has the right to foreclose on any real property that has been pledged as collateral.

Now, the plain English translation. You have to understand that businesses largely run on credit in our economy. Daddy's would take out a line of credit from a bank to buy a whole bunch of guitars. The hope is that, by charging about 30 percent above the cost of those guitars, Daddy's can pay rent, pay its people, pay back the credit and interest used to buy the guitars, and then have a little left over (i.e., profit).

Typically, if you take out a line of credit to buy inventory, the inventory is used as collateral -- that is, the lender gives you money to buy the guitars, but if you mess up and don't pay the lender back, he can seize the guitars.

Often the lending agreements will say that Daddy's has to have a certain amount of free cash flow on hand. It's kind of the lender's way of taking the temperature of its borrower. If Daddy's is busted on its last dime, there's a good chance it can't meet its loan payments.

So, imagine this: You use a credit card to buy a guitar. The credit card firm says, hey, we'll loan you money, but the guitar is our collateral. If your checking account balance falls below the minimum monthly payment of the credit card, the credit company has the right to demand that you pay back the entire balance immediately -- or else it can seize the guitar.

I suspect that's what happened here. Daddy's was on the bring, and it only took a week or two of bad sales to trip the trigger. The lender's patience ran out, and they foreclosed.

The said thing is that now you are not dealing with the folks at Daddy's. You're dealing with soulless money people. They technically own all that inventory now and all they care about is getting their money back. They have ZERO incentive to please any of Daddy's former customers.

In these situations there's even the possibility that the lenders will change the locks on all the stores and bar the Daddy's people from entering. If you know someone at the shop, get everything in writing and get it AS SOON AS YOU CAN. The Daddy's people probably did their best to save the company, but you may soon be dealing with their soulless lenders rather than the people who tried to serve musicians for years.