by Elise Yablon | Nov 17, 2020 | News
Musical instrument retailer Guitar Center is preparing to file for bankruptcy. It was announced late last week that the company has “entered into a comprehensive Restructuring Support Agreement (the “RSA”)” with its key stakeholders to reduce...
by Elise Yablon | Oct 27, 2020 | News
Guitar Center could be the next retailer to file for bankruptcy due to the pandemic. According to the New York Times, sources close to the situation revealed that the company missed a roughly $45 million interest payment earlier this month. That...
by Alix Vallecillo | Jan 15, 2016 | Legal Woes, News, Shady Business
The musical instrument retail giant Guitar Center told their employees to sign a new arbitration agreement by the end of the month, otherwise they will be immediately terminated. An arbitration agreement is a contract in which you agree to bring any legal claims you...
by Seth Werkheiser | Feb 13, 2015 | News
Things are just going from bad to worse for Guitar Center. As reported earlier this month, the music equipment super-store made plans to axe a bunch of corporate folk. That number went from 40 upwards to 180 people, and the hits just keep coming. In a report from Gear...
by Seth Werkheiser | Feb 3, 2015 | News, Retail
According to an internal email, the mighty Guitar Center continutes to crumble before our very eyes. The leaked email, from new CEO Darrell Webb, announces a plan to “reduce corporate and field supervision staff.” The internal email, from GearGods:...