Guitar Center, the largest retailer for musical instruments in the US, is the latest company to file for bankruptcy in the wake of the coronavirus …
Guitar Center, the largest retailer for musical instruments in the US, is the latest company to file for bankruptcy in the wake of the coronavirus pandemic. The retailer announced Saturday it had filed for Chapter 11 bankruptcy protection „to significantly reduce our debt and enhance our ability to reinvest in our business.“ Guitar Center aims to emerge from bankruptcy before the end of the year, the company said. The possibility of Guitar Center’s bankruptcy filing was first reported in October by Bloomberg. According to the company’s bankruptcy filings, Guitar Center has been forced to seek protection in part due to „the economic upheaval created by the persistence of the Covid-19 pandemic.
