The ubiquitous guitar stores we all know and love/hate – those 300+/- stores throughout the country, have hit another speed bump while in the midst of the best sales year for guitars in decades.
Perhaps like a terminal cancer, being owned by bean-counters (Ares Management, etc.) instead of entrepreneurs with a love of guitars and music, has doomed GC into such downward spiral that only a magical reversal of gravity could possibly change its trajectory.
This will likely be resolved by converting some of the debt into equity, thus bringing more bean counters into the corporate decision-making process, resulting in less-than-ideal moves from the perspective of the market and a further submission to the will of gravity.
Thanks to Ultimate-Guitar for this article with further details on Guitar Center’s financial woes.