What's Happening with Guitar Center? part 2

Guitar center has just missed a debt payment, here is a look at why and here is my prediction for what will happen.

[MikeSmith-tydd]

Wow, great to see Gary’s is still going. I remember when the shop first opened way back when. Portsmouth was guitar heaven back then with you guys, guitar warehouse, daddy’s, etc.

Great job navigating a tough industry and outlasting pretty much everyone in Portsmouth from the late 80/early 90’s.

[TheMoneyMakingMentor]

I went to a GC 2 years ago and walked out after 15 minutes of being ignored. Spent $2, 700 at Sam Ash that same day

[tommorningstar]

Valid analysis of the Bain approach. The rise of the bean counters marks the beginning of the end of any great business (or institution or society).

[reyreymo]

I like to hear your thoughts. I'm glad to hear you are holding well during all this.

[anthonyitzie]

Went into a Guitar Center about an hour ago with the intention of buying a new guitar amp (Fender Twin Reverb) with $1100.00 cash in my pocket. I was there for at least 10 min and could not find a salesperson to help me, so I yelled Hello about 10 times finally a guy came out to replace a light bulb, I asked him for help and he told me he was just a maintenance man. I waited a few more minutes and finally left. This is a huge store, no wonder they are going out of business. I just ordered it from Reverb and saved a few bucks.

[snakehips]

Hi Mark,
I hope all is well with you, and this guitar store rides the Covid waves safely !
I’m the guy in Edinburgh, Scotland who burned out my leslie motors, some years back, ha ha !! Gonna check out your youtube page (Gary’s Guitars) now. All the best !!! Richard

[mdlmusic]

GC advertised that they were buying used instruments in my area. I sold them an old keyboard that I no longer use at a decent price. The wall of guitars was almost empty.

[perdido]

In short, what happened to Guitar Center is capitalism itself. Real people, as opposed to a corporate "person", go out open a music store as a means of earning a living doing something they love and along come the "capitalists" who see the existing business as something they can take over by borrowing "capital", take over the business, suck whatever profit there might be in it and skip town, leaving an empty building and unemployed workers.
Mitt Romney's group took over Guitar Center with borrowed money, undercut local dealers because they had oodles of investor cash to burn, lined their pockets and left town with a pocket full of C Notes without bothering to learn even a C Scale.

[jimchilds]

When Guitar Center opened in my city the independent guitar stores closed because GC was selling the same guitars much cheaper. GC is still going strong here.

[stevewarren]

Did your store have to compete with Mars Music back in the day?

[scottpc]

They are closing 250 stores. The one near me has no guitars on the walls anymore.
You can tell they are going under. long live mom and pop music stores !
:-)

[rockinroy]

the turn it down rule is what put them out of business...no cables and disconnecting most of the equipment doesn't help either...

[Dylan-jiug]

During all of this drama with GC, they opened a location maybe 10 miles from another location, inside of a mall that no one ever went into into the first place that had a terrible reputation in the area. Its not a bad store, its actually kinda nice inside but just a horrible location and decision. One of those locations would need to close I would imagine.

[scottraycraft]

why are live wire cables bad?? I have some, mostly use mogami now...they sound fine and have lifetime warranties...ive had to resolder a ground or two...ive had to fix mogami as well...rare but it happens...mogami DOES sound better...livewires sound better than monster/fender/boss cables

[CouchEconomyTX]

While i love going to guitar center
If my local one goes down, i cant wait for them sweet sweet store closing discounts.

[jeffhildreth]

Guitar Center is the Chrysler of the guitar world. It's time to let 'em try to make it on their own or die. They have continually been bailed out and come back worse. GC has the worst customer service in the business, . compare them to Sweetwater or my local guitar store. I have had my own negative experiences with them, time and again, over 3 decades. I would not mourn their departure.

Jeff in Oregon.

[TeleCaster]

The first time I walk no Guitar Center I hated it. The second time I walked into a Guitar Center I hated it even more.

[michaelv]

After Guitar Center came here it caused all the little stores to close. If they close we won't have a music store.

[Happyboymargarine]

And they should have returns for store credit or exchanges only, instead of 45 days, everyone I know rents guitars from guitar center

[stevehurl]

It would be better for customers if Guitar Center were replaced by 100 smaller entities. But you all are buying $3000 guitars based on an internet photo, so we are still f**ked.