Guitar Center: From bankruptcy to $2.5B in sales

Mr. Pickles

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That was painfully reminiscent of the kind of thing where you ask someone a question about something, expecting a relatively short answer, and they begin with, "When I was 17, I...".

A ho! lotta backstory just to make a simple point.
 

mgenet

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I've read nothing about it. And this is from memory (what I have left of it)
...It may have been a re-organizational bankruptcy or something like that.
The company doesn't go away it just reorganizes it's debts and assets.

And companies do come back from bankruptcy.
 

TheWelder

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The minute their stock goes public, I am going to short the living fuck out of it - LOL.
It's actually a pretty good strategy. It's not like their shitty business model changed...they benefited from lockdown when everyone and their mom thought 'I'll take up guitar.'

I'd imagine a good portion of those people aren't going to stick with guitar, so the buyer pool will soon be back to players and collectors. With the profits you make from shorting their stock, you can buy up a bunch of the inevitable used 'lockdown guitars' that will pop up on eBay and Reverb.
 

Dolebludger

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Well, I never had any problems with GC. But always knew what I wanted and didn’t rely on their staff for advice. GC is kind of like most grocery stores these days — no real service. But if you know what you want (even if you can’t play before you pay) they have a good return policy.
 

Kamen_Kaiju

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they're trash. They'll be right back to, "going out of business" like they've been for 10+ years soon enough.

Shitty salespeople, damaged stock, limited variety, .. and the wave of covid prisoners trapped at home who suddenly decide, "now is the time to learn guitar like I always wanted!".. will disappear, .. and they'll be right back where they were.

Not paying their suppliers, ripping off other companies and acting like assholes.
 

ehb

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I could say something about the article contents but I won't...

Short folks are gonna make some money...some, lots of money....
 

Dolebludger

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My somewhat defensive comment about GC in post# 10 above was from the consumer standpoint only, and not about its business ethics. If I made my shopping dependent on the seller’s ethics, I wouldn’t buy much.
 

redking

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they're trash. They'll be right back to, "going out of business" like they've been for 10+ years soon enough.

Shitty salespeople, damaged stock, limited variety, .. and the wave of covid prisoners trapped at home who suddenly decide, "now is the time to learn guitar like I always wanted!".. will disappear, .. and they'll be right back where they were.

Not paying their suppliers, ripping off other companies and acting like assholes.
Indeed - as a public company, you can't treat suppliers and customers that way because all of a sudden you have a bunch of people on the Board of Directors that become liable for the stupidity of managment - and that shit doesn't fly typically.
 

Dolebludger

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If I understand correctly, IPOs are offered at a certain stock price. If they don;t bring that price, or close to it, they are pulled. I can see that happening here.
 

mgenet

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they're trash. They'll be right back to, "going out of business" like they've been for 10+ years soon enough.

Shitty salespeople, damaged stock, limited variety, .. and the wave of covid prisoners trapped at home who suddenly decide, "now is the time to learn guitar like I always wanted!".. will disappear, .. and they'll be right back where they were.

Not paying their suppliers, ripping off other companies and acting like assholes.
Please don't sugar coat it, Kamen. Let it ALL out.
Some how I feel you are holding back a bit. :applause:
 

Tone deaf

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