Heard some news today that GC is 650 million in debt and going to file for bankruptcy. Doesn't surprise me..

Much of the money is owed to Yamaha-Gibson-Korg - Roland and on & on & on & on...

You may never see a Tyros 4 ....

Chapter 11 or 13?

I am searching for links to confirm this..

Perhaps shouldn't post unless certain.

Another one bites the dust nothing new there ....I actually expected this.
Internet sales killing them.



[This message has been edited by Dnj (edited 02-07-2009).]

It's a shame. These big guys come in and run all the local guys out of business and then go under themselves. Remember Mars Music? Then we're left with nowhere to shop. I'm guilty too though, I buy stuff off the internet all the time. Oh well, it's a different world.

Joe

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Songman55
Joe Ayala

I did google searches under guitar center bankruptcy and guitar center chapter 11. Nothing at all comes up.

Beakybird

True or not, I'm afraid we will see more than one beat the dust
during the year(s) to come.
Too bad and even worse if we see the factories close down as well.
But as they say, ones dead anothers bread...
GJ

I do think many of the traditional brick & mortar stores/chains will bite the dust. Not sure about other areas, but I'm seeing more and more empty stores in the Malls around Dayton, OH than I ever have.

The internet has forever changed how consumers shop for goods. Music stores, like clothing stores, department stores, etc. are all facing a bleak future...

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Bill in Dayton

False alarm fellas. The sky is not falling either as chicken little use to say.

GC has NOT filed for bankruptcy protection, however much Dan might want them to. Guitar Center recently "acquired" The Woodwind & The Brasswind from the Musician Friends company subsidiary. Guitar Center also recently acquired the Music123.com online music retailer as well. They also purchased the Music & Arts Center company back in 2005 and have recently started to expand its presence throughout the country with ambitious building and expansion projects.

Nice try Dan..

All the best,
Mike

PS: Now if Dan heard this within the last 24 hours then he has an extremely good inside connection and the information has not yet reached the threshold of major news outlets or the internet as of 8:00 a.m this morning. There a slight possibility of that happening though, seeing this is Sunday and all.



[This message has been edited by keybplayer (edited 02-08-2009).]