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Cue The Sad Guitar Riff…Is Guitar Center Headed For Bankruptcy?

Guitar Center could be the next major retail chain to declare bankruptcy during the pandemic.

According to a report from The New York Times, the company missed a $45 million interest payment earlier this month and that they could file for bankruptcy as soon as next month.

Guitar Center is the largest musical instrument retailer in the country, but is about $1.3 billion in debt, despite sales of more than $2.3 billion in the last fiscal year.

A spokespeople for Guitar Center declined to comment on the report.

How much of your shopping is done online vs. in brick-and-mortar stores? 

More at Loudwire.com


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