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Discussion in 'General' started by Jordan Blue, Dec 6, 2017.
Like I've always said, 'If you can't believe Brad the Guitologist on YouTube, who're you gonna believe?"
The Guitologist also published a pretty cool video called "The Fascinating History of Guitar Straps." &list=PL68vqBBsqTi-9PaH2gm45vstTdeunnfZW
Honestly, I wouldn't be surprised if GC goes under. I do know that they are losing quite a bit of $$$ every month/year. My GC in Covina, CA closed and a new store opened in Glendora. I went their not too long ago and though it sad that so few customers were there! The times, they are a changin'.
Guitar Centers fate was cast in stone when it was acquired by Bain Capitol in 2007. They are notorious Corporate raiders who's wash and rinse game plane is to acquire a company, install a thin veneer of viability, progressively load this company with as much debt as possible then declare bankruptcy or sell it to some suckers all while giving all the executives at Bain very handsome bonuses on the way out the door.
Been hearing about this demise for years now. I could see Sam Ash going first.
Ash and GC are businesswise different animals. Ash is still family owned and have a goal of keeping the company strong... which doesn't necessarily mean more short tetm profits. GC is as Nacci said above owned by Bain Capitol who have a totally different business model. I go to Sam Ash more than GC for just that reason.
I want them to both stick around. Whatever opinion we have of them, keeping instruments in communities is important.
If GC goes here in los angeles it will be really bad for musicians and beginners wanting instruments. The only other store in the valley is a SA and its a joke. There is an independent store in San Fernando but they are tiny and only sell entry level instruments and marching band stuff.There are independent guitar shops on sunset in hollywood but that can be a 30 minute to 1-1/2 hour drive for many and good luck trying to find a parking spot. GC has enough stores in la to easily serve the entire city with ease.
This is too bad. Just like the record stores all gone. The internet is killing it, all of us know that sometimes the internet he way better deals and offers than GC and probably SA. For instance I found a snare drum at GC that retailed $399 online brand new. If I bought it I would charged shipping to my house or another GC. I can buy the same drum on Amazon for the same price,brand new, and have it shipped to my house for free in 2 days!
A new GC opened here in Dublin CA last year and I have no idea why. I've never been there, but frequent my local drum shop at least once a week. Really, no reason for me to go the extra mile to GC.
It would make sense for GC to streamline the operation and get rid of some of the strgglers, unless they are in place to bury losses so the tax man will leave them alone...Cant be showing too much profit now...can we?
GC isn't going anywhere in the short term. Even if it were to default on its debt (which seems not-impossible given Gibson's reported financial situation) and enter bankruptcy protection, it would restructure, close some stores, and scale back, maybe under new ownership if Bain decided to sell at a loss. It often takes several rounds of this cycle to fully kill these zombie retail companies. See also Shack, Radio.
Bain has had no say since 2014 when Ares Management took controlling interest in GC.
When the GC near me opened it was a good place to deal and talk shop. Most of the employees were knowledgeable, experienced and had the authority to make good deals. After about two years, everything changed. Since then it's staffed mostly by kids just out of high school who know little of the gear and even less about being a musician. And their pricing leaves much to be desired.
guitar players and keyboard players need a place to buy their stuff and bands need a PA and GC sells all that.
Every time I go in there there is some 8-year old beating on the drum kits & I can't even think what I'm doing there
For those looking for more perspective than YouTube's Brad the Guitologist provides:
With Russo music so close to me, there aren't a whole lot of reasons for me to go into GC.
We'll just have to wait and see.
Considering the duplicitous nature of the world of private equity and distressed asset investing it is entirely possible that they are the ones spreading the rumors of Guitar Center's immanent demise only to take short positions on the trade. When money can be made on a stock when it goes both down and up private equity has a real interest in volatility. When it does not exist they create it. #Mockingbird