Guitar Center Pending Chapter 11 Bankruptcy

[mkel2010]

I came across this week-old video on the impending Chapter 11 bankruptcy of Guitar Center. It sounds like they will try to reorganize and it will likely involve closing a number of stores. It also likely effects their ability to get new guitars since manufacturers are unlikely to extend credit until the bankruptcy is resolved. Just a word of caution for those shopping Guitar Center for Christmas.

 

[rjwilson37]

Wow, bummer!

 

[Michael Matyas]

Thanks mkel for posting this. Very interesting and informative.

 

[dmac in SC]

Sad, just sad...

Buy new, or the same will eventually happen to the entire industry. I can't emphasize it enough, the NEW guitars, amps, effects are better than ever... this perpetual recycle of the 30,40,50 year old 'vintage' gear is good for nostalgic purposes only.

Sorry if this steps on someone's toes, but it is true.

 

[mkel2010]

Apparently the bankruptcy petition was filed shortly after the video was released.

 

[rbraad68]

I bought an EPI LP custom Cream colored Rhoads looking LP from GC . The guitar was delivered checking account charged everything seemed normal ...Turns out five months later they figured out that they screwed up and never charged me for the guitar. I didnt notice at the time cause i had like 7k in the account and hadnt noticed. I paid for that guitar five months later!!!

 

[Street Lethal]

I bought an EPI LP custom Cream colored Rhoads looking LP from GC . The guitar was delivered checking account charged everything seemed normal ...Turns out five months later they figured out that they screwed up and never charged me for the guitar. I didnt notice at the time cause i had like 7k in the account and hadnt noticed. I paid for that guitar five months later!!!

I had pretty much the same thing happen with Musicians Friend this past year. I think GC and MF are having a lot of issues with the staff as well. I think the whole Covid thing has forced a lot of their CS reps to work from home and things are just getting f**ked up.

 

[Michael Matyas]

Where I live the local GC is pretty much the only game in town. If they close the local store it's mostly pawn shops.

 

[Street Lethal]

Where I live the local GC is pretty much the only game in town. If they close the local store it's mostly pawn shops.

Same here, but we do still have a Sam Ash, but who knows how long they will keep their doors open. I've been buying most gear online for years now anyway but I always like having a local music store around in case I want to just walk in and buy something. Most of the locally owned music stores have closed shop. There is one that is about an hour away that is held in very high regard but I rarely like driving an hour to go shopping for anything. It depends on what the item is and how cranky I am that day. I'm getting old, so everything depends on my mood. lol.

 

[Michael Matyas]

I can't buy anything unless I can inspect it and play it first. The only guitars I've bought sight unseen are a pair of Agile singlecuts, and thankfully they are both great guitars.

 

[Street Lethal]

I can't buy anything unless I can inspect it and play it first. The only guitars I've bought sight unseen are a pair of Agile singlecuts, and thankfully they are both great guitars.

When it comes to guitars I usually try to buy them in person so I can check them out. But it's becoming harder to do with shops closing left and right.

 

[JMP]

It’s a bummer that some employees may loose their job. But, in my experience, Guitars Center sells trash and their customer service sux. I quickly learned not to give them my business. Where I live, there are many independent music stores, so this doesn’t impact me at all.

 

[mkel2010]

I had pretty much the same thing happen with Musicians Friend this past year. I think GC and MF are having a lot of issues with the staff as well. I think the whole Covid thing has forced a lot of their CS reps to work from home and things are just getting f**ked up.

According to the video, Musician's Friend is a subsidiary of Guitar Center. They are apparently the division that handles band instruments and that business has done even worse with Covid. The video made it sound like MF might be at the top of the chopping block.

 

[Lester]

I can't buy anything unless I can inspect it and play it first. The only guitars I've bought sight unseen are a pair of Agile singlecuts, and thankfully they are both great guitars.

Same here... with one exception. Bought a unique,NOS guitar that was likely a one-off opportunity on-line. Considered it a major risk, but some things have to be done! Don't think I'd buy anything new on-line. I'd want to pilot it first hands-on. Not only does quality vary tremendously these days, but I have to experience a neck to decide if it works for me.

As for GC... great for commodity stuff like strings you need in a hurry. Good used deals some of the time. Personally, I don't buy a lot of new guitars, but I know others do. Unfortunately, like a lot of multi-state chains, they've driven out the small stores in a lot of areas. Retail evolution these days. So now if they disappear, we're left with no retail music stores.

 

[rjwilson37]

I was at Guitar Center testing out a few prospective guitars and I overheard them closing up in February. There will probably be a big closeout sale just after X-Mas. I hope they have some great X-Mas deals going on before everything in the store starts to disappear.

 

[rjwilson37]

I think not all Guitar Centers are closing, but the one in La Mesa, CA. near me is closing. I wonder about the Escondido, CA. store.

 

[mkel2010]

I think not all Guitar Centers are closing, but the one in La Mesa, CA. near me is closing. I wonder about the Escondido, CA. store.

Content in the video indicated that the bankruptcy is an opportunity for GC to get out from under expensive leases or to close under-performing stores. I know that La Mesa store has been there a long time, but that much space adjacent to the freeway can't be cheap. I suspect they're trying to get out from under the lease more than get rid of an under-performing store.