Guitar center wiped out!

[Clark W]

So what you're saying is...

...my glasses aren't on the way???
View attachment 4125865

Probably lost in the mail along with my decoder ring

 

[gregbackstrom]

GC's Chapter 11 screwed their vendors out of a collective nearly $1-billion in debt. I don't see many being interested in giving them more stuff

I think most manufacturers and distributors knew the risk of a GC bankruptcy, and without studying the reorg plan, you really don’t know who lost what. From my M&A and bankruptcy experiences, it’s typically the lenders that make the greatest concessions. The merchandise most likely was paid for through credit lines. The lenders have restored GC’s credit lines post-BK, and GC got a pretty massive cash infusion. The whole process was completed in a month, so there wasn’t much litigation involved. I think GC will come back just fine. Oh, BTW, there’s a pretty big difference between $800MM and $1 Billion.

 

[LordRyan]

I get e-mails from GC every couple of weeks announcing an upcoming Saturday when they will be purchasing used gear for up to $500.
Recently I've started getting occasional phone calls from a certain person identifying herself as from GC (though the caller ID says Musician's Friend) offering assistance if I need to make a purchase.

 

[Son of Wobble]

In other news, screw those people too.
They owe me thousands (if not hundreds of thousands) of dollars from a new album marketing campaign they didn't honor in 2002. Oh they took my money, just never put up the 'stuff'. A large portion of the reason I work a day job now.

Are you saying tower records used to sell preferential, premium shelf space the way supermarkets do?

 

[getBAK]

Those endcaps didn’t pay for themselves

 

[alaskaleftybass]

Rumors of GC's death are greatly exaggerated. For some reason GC gets a lot of hate here on TB. GC is not going to fail. Regardless of what everyone thinks they do a lot of things right and they will survive, so don't strike up the brass band just yet.

 

[bbh]

My understanding was they were to close brick & mortar to quell some debts. Internet would still be fully operational.

 

[Mantis Tobaggan]

Their bankruptcy is behind them. I anticipate they will be back to normal soon enough.

 

[AxtoOx]

I sold a used strat yesterday, top dollar, as a business manager in the 90's they are just adjusting to the market.
I here people are picking up guitar to fill a void, but we are diffrent.

 

[AxtoOx]

Also,
I lived in San Diego till 2005, La Mesa was an A store, one of the originals downtown on B st.
They went heavy bass dept, entire wall of Warwick and some of everything, SWR was still a factor, Ampeg sponsored and area, they don't get the return on their money on bass and this was a dream inventory.
Already shrinking when I left in 2005.

 

[The Petro]

I went back to the Orange, CT GC today. I counted 18 basses, (1 used) mainly entry level.
A fee fenders in the 1k range, a few ibanez sound gear, i Schecter Stiletto i have been eye bawling for a month.
1 Stingray shorty i believe. A few amps.
I’m assuming all stuff from the warehouse.

 

[Mike JV]

Right Now most Guitar centers only have 20 or so basses where normally they have 70+. From what I was told they can't even order new stock when they sell something. Don't know if this is the Predicted end of GC or not but it does not look good.

Great. More people out of a job. As one who was laid off 3 times in the past I know that helpless feeling all too well. I feel bad for those folks.

 

[alaskaleftybass]

Every aspect of the consumer industry is suffering from the pandemic. GC is no different, it also is trying to survive until things get better. Wish everyone would give them a break.

 

[selowitch]

Wish everyone would give [GC] a break.

What? And give up our hobby???

 

[alaskaleftybass]

What? And give up our hobby???

 

[Rob112]

Mine outside of Philly was near empty too. Hopefully they pick back up. I know they get a lot of hate but the dudes at the one I go to are cool as hell for the most part. Have been for the better part of just over 20 years.

 

[/\/\3phist0]

I've had a Luna acoustic bass on order since nov 1st at Dublin Ca GC store, and its still on back order from Luna.Still slim pickins In local stores.Hopefully they said maybe beginning March ETA.I pray GC dos'nt go out of business.

There's still Showcase and Starving Musician.

 

[/\/\3phist0]

My understanding was they were to close brick & mortar to quell some debts. Internet would still be fully operational.

Musicians Friend is GC. Since 1999

 

[COYS]

My understanding was they were to close brick & mortar to quell some debts. Internet would still be fully operational.

They restructured the debt and their financing. The plan has been approved by the court and they have officially exited bankruptcy as of a month or so ago. There was no mention of closing stores in anything I ever read about said plan.

 

[selowitch]

There was no mention of closing stores in anything I ever read about said plan.

Well, they are closing the Silver Spring store near me but I’m sure it’s merely a coincidence.