• TalkBass has been independent since 1998. Add your voice.
    Create a free account to reply to discussions, view embedded media, and browse with fewer display ads.
    Join free Log in
    Want zero display ads or expanded classifieds tools? Compare plans.

Thunderbird Club

#164,902
PillO said:
I went looking for musician's friend bankruptcy and didn't find it. I had thought that perhaps GC had put their bad debts etc. into it and were running it through chapter 7 to get some relief. but it appears that it is GC going into chapter 11 with support from investors.

They got hurt in the current state of affairs. They had managed to get credit facilities some time in the last year or so that was supposed to let them keep operating for 3 years. So I wonder if this is a move to get leases reorganized (I suspect that they got no rent relief from their landlords) on better terms or have missed rent forgiven.

I don't think they are going anywhere. I don't expect they will be blowing out inventory. And I don't expect there will be any meaningful change to used inventory (continue offering low prices with the expectation of turning a quick 20-30% in a month or so).
Click to expand...
It would be hilarious to see them try for Chapter 7. 13, maybe, but to try for 7 they'd need to hire Rudy Giuliani.
 
  • Like
Reactions: Engle, Instagator, Miles_ONeal and 3 others
#164,904
BklynKen said:
It would be hilarious to see them try for Chapter 7. 13, maybe, but to try for 7 they'd need to hire Rudy Giuliani.
Click to expand...
Yeah, I'm not a bankruptcy guy. I stay away from companies flirting with any kind of bankruptcy.

I do know some people that play in that arena. There is a lot of money to be made. And a lot of risk associated.
 
  • Like
Reactions: dagrev, GBassNorth and MCF
#164,905
PillO said:
I went looking for musician's friend bankruptcy and didn't find it. I had thought that perhaps GC had put their bad debts etc. into it and were running it through chapter 7 to get some relief. but it appears that it is GC going into chapter 11 with support from investors.

They got hurt in the current state of affairs. They had managed to get credit facilities some time in the last year or so that was supposed to let them keep operating for 3 years. So I wonder if this is a move to get leases reorganized (I suspect that they got no rent relief from their landlords) on better terms or have missed rent forgiven.

I don't think they are going anywhere. I don't expect they will be blowing out inventory. And I don't expect there will be any meaningful change to used inventory (continue offering low prices with the expectation of turning a quick 20-30% in a month or so).
Click to expand...
I think they’ll very likely close some underperforming stores. Some of them are downright dumps. But they will reorganize and stay in business. I think we’ll see an even greater expansion of their in-house brands. Fender no longer really needs them, except at Christmas time to push Squier starter packs. But heck, they could move a lot more of those through Costco.

It’ll be interesting to see what deals Ibanez, Yamaha, etc. make with them and what happens to their exclusive distributorship deal with Markbass. I’m not a hater of them, nor am I really a fan. Time will tell.
 
  • Like
Reactions: dagrev, Border, GBassNorth and 2 others
#164,906
Miles_ONeal said:
Acoustic 371s! And he owned at least one Thunderbird.
Click to expand...
Yup..
upload_2020-11-14_15-33-38.jpeg
 
  • Like
Reactions: dagrev, Border, RedVee and 7 others
#164,907
MCF said:
I think they’ll very likely close some underperforming stores. Some of them are downright dumps. But they will reorganize and stay in business. I think we’ll see an even greater expansion of their in-house brands. Fender no longer really needs them, except at Christmas time to push Squier starter packs. But heck, they could move a lot more of those through Costco.

It’ll be interesting to see what deals Ibanez, Yamaha, etc. make with them and what happens to their exclusive distributorship deal with Markbass. I’m not a hater of them, nor am I really a fan. Time will tell.
Click to expand...
I agree, a number of contracts may get "reorganized". IIRC Gibson and 7ender both have minimums and requirements to stock a full range.

And like you, I am passionately indifferent towards GC.
 
  • Like
Reactions: dagrev, GBassNorth, Miles_ONeal and 1 other person
#164,910
  • Like
Reactions: Gaolee, dagrev, MCF and 6 others
#164,911
Chucky Stiletti said:
people dying to get out for a little fun...
View attachment 4053918
Click to expand...
That’s nice!

My Grandfather had a ‘36 Chev “All Enclosed Coupe”, built by Holden. A fastback colloquially known as the Sloper. It had a fold down rear seat backrest for longer loads, and for 1936 a “pop-out” rear window. A hatchback precursor... without the lift back of course.
 
  • Like
Reactions: dagrev, Border, Miles_ONeal and 4 others

Latest posts

Top Bottom
Back