Guitar center wiped out!

[Plain Old Barry]

Why do you think they're doing "Used Gear Purchase Events"?

ALL of my local music shops, chain or one-off, are low on stock, as are art supply stores, bicycle shops, craft stores, even Woodcraft... The pandemic created a weird dichotomy of low supply, demand for hobby items (music is a stay at home hobby for most), and some who are working full-time with big stimulus checks.

It's also worth mentioning that I waited 4 months for a Sweetwater exclusive instrument this summer. My Gear Advisor mentioned they were having huge delays and extremely fast sales creating lots of out of stock items.

 

[rashrader]

Awesome!! Maybe we will get cool and unique Mom and Pop shops back again....

 

[Alkali Ike]

I think they have a few locations that are just for lessons. Believe I saw one of these in Nashville.

I always thought "Lesson Factory" was an unfortunate name choice for their lessons stores. I think they've changed it to something else.

 

[Plain Old Barry]

Awesome!! Maybe we will get cool and unique Mom and Pop shops back again....

You don't think Amazon, Chicago Music Exchange, Sam Ash, Reverb vendors, and others will fill it right in?

Move on...

 

[MultiScaleMale]

Awesome!! Maybe we will get cool and unique Mom and Pop shops back again....

Were Mom and Pop shops really all that good? I remember poor selection, high prices and they made their money from band instruments.

 

[J-Bass RMR]

More likely pandemic-related than the (latest) bankruptcy thing - that's just another "chapter" (no pun intended) in an ongoing saga.
They are still a major outlet, and the capital they've (likely) secured should keep their suppliers happy for the time being.
I would say this is what January during a pandemic looks like.
If you've ever worked retail, you live for December, only to die in January.
And now it's January during an ongoing pandemic, with continued supply issues in many industries, not to mention the ongoing shift to online sales.

 

[Ross W. Lovell]

I was in gc, braintree ma. yesterday to buy a tascam recorder. The place looks like it was looted. I was lucky they had the recorder in stock. There were 5 basses new stock, nothing in the used gear department at all! Be advised, if you buy a tascam recorder they dont come with a sim card.

While it could be a credit issue, to me it's doubtful.

Wonder if the production is down because the manufacturers and/or suppliers were deemed non essential?

 

[MordBass]

It seems to vary. The Villa Park IL location by me is moderately stocked although much less than you'd expect pre-covid. On the other hand, the CountryClubHills IL location had about 10 basses on the wall and 30 empty hooks. Weirdly, they had an Elrick Gold series that was bought in used that week.

You'd think that they'd at least evenly spread the remaining instruments and amps out while removing empty hangars but this company just cant get out of its own way.

 

[MYLOWFREQ]

Their time square location is closed last week.

 

[rashrader]

You don't think Amazon, Chicago Music Exchange, Sam Ash, Reverb vendors, and others will fill it right in?

Move on...

I really enjoy going to the privately owned and operated music shops in my area. To each their own.

 

[sleepingEB0]

I’d guess they will close 75% of stores and slim down to bigger successful stores and make customers drive (or go online to another vendor).

also, I’ve posted elsewhere but their vintage gear business is hilariously uninformed.

 

[Element Zero]

...yawn...

 

[9c1ny]

Guitar Center in Eugene Oregon has looked like this since Summer.
I inquired and was told due to Covid they are not buying used gear and the giant push of everyone and their stimulus money this spring has ham strung the manufacturers.
Look at Sweetwaters site, half the items are listed as " more on the way "

 

[Richard Martin]

Many times a lack of inventory means that tax time is near and the less inventory they have on hand, the less they have to pay in Personal Property tax. As we get closer to income tax returns time, their inventory should swell.

 

[fhm555]

Here's the thing, as Fender sinks into the 21st century tar pit of really old technology, there will be some sweet deals on new instruments.

 

[gregbackstrom]

I think it may be a combination of: Holidays, covid, inventory reduction for asset value adjustment related to chapter 11 and credit limitations until bankruptcy is settled. So pretty much all of the above are factors.

Ding Ding Ding...we have a winner. They may be allowed to buy on credit, but I doubt any suppliers are going for anything but COD. One supposes that even a nine-lived specimen like GC will eventually collapse. "A situation that can't be sustained, won't be."

Guitar Center exited their Chapter 11 bankruptcy before Christmas. They were able to eliminate about $800 million of debt, secure new financing from their existing creditors and got about $165 million of new funding from Ares Mgmt., Carlyle Group and Brigade Capital Mgmt. They're probably the best credit risk on the block now.

 

[Bunk McNulty]

Guitar Center exited their Chapter 11 bankruptcy before Christmas. They were able to eliminate about $800 million of debt, secure new financing from their existing creditors and got about $165 million of new funding from Ares Mgmt., Carlyle Group and Brigade Capital Mgmt. They're probably the best credit risk on the block now.

Happy Days Are Here Again.

 

[Admiral Akbar]

Were Mom and Pop shops really all that good? I remember poor selection, high prices and they made their money from band instruments.

Thank you. My experience—exactly.

 

[Peteyboy]

More Guitar Center yadda yadda? I've been playing bass since 1982 and I think I've done business with GC twice. Judging by all the anxiety on TB about it I'm guessing I'm in the minority. If GC disappeared tomorrow what would we all do? Everyone seems to fluctuate between griping about them and freaking out over their perceived demise. Weird and pervasive retail co-dependance. Is there some reason why I should worry about the K Mart of guitars going away?

 

[MordBass]

More Guitar Center yadda yadda? I've been playing bass since 1982 and I think I've done business with GC twice. Judging by all the anxiety on TB about it I'm guessing I'm in the minority. If GC disappeared tomorrow what would we all do? Everyone seems to fluctuate between griping about them and freaking out over their perceived demise. Weird and pervasive retail co-dependance. Is there some reason why I should worry about the K Mart of guitars going away?

Well for starters, there is usually a goldmine of used gear available there at really good prices and a solid return policy in case it doesnt show up in the condition you want. Additionally, they might be the K-mart of guitars but theyre also the starting point for lots of kids getting into playing. If you like seeing companies that make gear, you're going to want new people to start playing.