Will Bankrupt GUITAR CENTER Drag GIBSON and Others Down With It? - SPF Slight Return?

3 years ago
40

The news has been out for several days now about Guitar Center's missed interest payment of $45M and its Moody's downgrade, signaling a likely and imminent default on debt obligations and bankruptcy within the next 30 days. So far I have resisted the urge to post about it, but seeing as I've been reporting on Guitar Center's financial woes for years on this channel, it would be irresponsible of me to not follow up now. So, in what might be the last ever SPF, I thought we might revisit where Guitar Center went off the rails, how it got to this point, and who else Guitar Center might drag down with it when it declares bankruptcy in November.
Sources:
NYT article: https://tinyurl.com/y4w4kb3u
Bloomberg article: https://tinyurl.com/y5udf8o9
Moody's Guitar Center History: https://tinyurl.com/y4uurahz
Rickenbacker Stops Selling to GC: https://tinyurl.com/yyr9m2e5
GC Lies About Pulling Fulltone Pedals: https://tinyurl.com/y3zlz6rb
Michael Fuller Criticism Over Comments: https://tinyurl.com/y6msehf2
Fulltone Says It Stopped Selling to GC Months Ago: https://tinyurl.com/yxlbb8nu
GC Liquidating Remaining Gibson Guitars?: https://tinyurl.com/yycm6yge
Heritage Sues Gibson: https://tinyurl.com/t2jltrv
Phil McKnight Points Out Bare Walls at GC: https://youtu.be/I5u97TUOt7Y
Guitar Center Sued Over Non-Payment of Rent: https://youtu.be/p_LFACTL7Bw
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