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On Friday, Guitar Center announced it was planning to file for Chapter 11 bankruptcy, and a prepackaged plan could be approved as early as this weekend. The move is part of the music instrument…
Guitar Center laid off 180 of its 7,000 employees in 2015; by 2018, the retailer was said to be on the verge of bankruptcy due to unsustainable debt loads and the decreasing popularity of musical instruments. [151] The company eventually filed for bankruptcy in November 2020. [152] [153]
Guitar Center was founded in Hollywood in 1959 by Wayne Mitchell as The Organ Center, a retailer of electronic organs for home and church use. In 1964, after a supplier required him to carry Vox guitar amplifiers, to continue receiving organs, Mitchell added the amplifiers to his inventory and renamed the store The Vox Center, leveraging the Beatles association with the Vox brand.
Mike Pratt was the Chief Executive Officer of Guitar Center Inc. in 2013–14. He replaced Kevin Layden and managed both the Future Shop and Best Buy brands. He joined Best Buy Canada in 1990 as a Future Shop sales representative upon graduation from the University of Ontario.
The kitchen brand, known for its plastic food storage containers, filed for bankruptcy in September after years of falling popularity and financial troubles. In late November, Tupperware’s brand ...
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Guitar Center purchased the assets of Dennis Bamber, Inc., D/B/A The Woodwind & The Brasswind in an agreement dated January 30, 2007. [ 5 ] In 2011, the company closed its South Bend retail store and warehouse, and announced its intention to transfer its call center employees to Indianapolis by the end of the year.