Guitar Center Chapter 11 Imminent

[Bassiclees]

So.. Seems in the face of companies like Fender posting their best ever quarters, Guitar Center is going to file Chapter 11 as soon as this weekend. With missed payments and maturing debt it isn't looking good for them... like a COVID19 accelerated Toys-R-Us scenario.

What does this mean for consumers? Anyone here know more?

Invalid Link Removed

 

[Gorn]

Haven’t they been on the brink for most of the 21st century already?

 

[Jeff Scott]

Here we go, again!

 

[Yango]

 

[48thStreetCustom]

Back in 2012 when Fender almost offered an IPO, they listed Guitar Center as their biggest risk in their S-1 forms. They saw the writing on the wall and started selling direct on their website.

Here's part of their S-1:

 

[japhy4529]

I think I've seen this movie before....

Guitar Center to Prep Bankruptcy With Creditor Support

 

[bholder]

Really? Finally? For real this time?

 

[japhy4529]

Really? Finally? For real this time?

Maybe. Possibly. Probably not. haha

 

[CryingBass]

Popcorn ready!

 

[basscooker]

Kind of a bummer in one big way.... Used gear. That sort of sticks us with ebay, reverb, CL and the like. The classifieds here are decent enough for heads, pedals, basses and easy/smaller/lighter stuff. FB marketplace requires actually being on FB; ugh.

 

[Bent77]

Kind of a bummer in one big way.... Used gear. That sort of sticks us with ebay, reverb, CL and the like. The classifieds here are decent enough for heads, pedals, basses and easy/smaller/lighter stuff. FB marketplace requires actually being on FB; ugh.

That's about all I use FB for. Unfortunately shipping kills a lot of deals from other places

 

[MJ5150]

This discussion already exists in the Miscellaneous forum. I'm going to move it over there where this one can be merged together by a mod there.

-Mike

 

[basscooker]

GC used pages is where almost ALL of my gear purchases in the last, like, 8-10 years came from. Never had a problem or got a DOA item.

 

[Michedelic]

Will the Property Brothers do the big reveal?

 

[Mechayoshi]

I want to add that unlike with private sellers, I’ve never had instruments, amps, cabinets, not a thing get broken while shipping from Guitar Center.

(I have had items in worse shape than described or not functional, but those were different issues. Not shipping damage.)

It would be sad to see it go. They are super cheap to order from, even larger stuff, and the return policy coupled with having physical stores removed most risk.

 

[tlite]

It's a reorg to clean up their debt position- there will still be Guitar Centers. There may be fewer of them, and they may look different than they do now, but this isn't a liquidation. At least we're a long way off from that if it is in the cards.

 

[And I]

I guess those of us who don't like guitar center win?

 

[davidjbass]

Blah Blah Blah! Old news! Same old song and dance. When they close their doors with signs on them saying they are done then I will believe it. Otherwise lets move on.

 

[Bander]

GC used pages is where almost ALL of my gear purchases in the last, like, 8-10 years came from. Never had a problem or got a DOA item.

Same here. The worlds largest selection of *working* used gear. With a return policy. And warranty?

 

[ElectroVibe]

For what it's worth, they are the worst music store I've ever been to in 35 years of playing.