Guitar Center in major financial trouble, may file for bankruptcy


Guitar Center, the only major retail music store one can purchase all sorts of gear used for djing and producing, this week had their debt rating downgraded by Moody’s. The presents the possibility that later this year the retailer will file for bankruptcy and close some or all stores. This unfortunately has been seen across the retail spectrum with many large and old retailers closing doors or downsizing primarily due to the effect of online shopping and Amazon.

Be forewarned that if you are a musician that your local music retailer may soon downsize or cease to exist.

Source: https://www.digitalmusicnews.com/2018/04/17/guitar-center-bankruptcy/



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