Just got an email from Guitar Center stating that they are filing for bankruptcy. Haven't they filed chapter 11 a few times in the past?
Is this saying Musicians Friend is also filing, or MF was reporting for Guitar CenterI got one from them and Musicians Friend both saying the exact same thing... also saying they are realigning their financial structure, not sure how many times this is/will be. But it’s unfortunate.
Musicians Friend is a subsidiary of Guitar Center.
It's all Bain Capitol, as well as many many many other businesses.
Several year ago when GC bankruptcy was brought up,It's all Bain Capitol, as well as many many many other businesses.
I'm not surprised. A major investment firm juggling accounts to protect their investments? Sounds like business as usual to me.Several year ago when GC bankruptcy was brought up,
I linked to an article stating that Bain was using GC profits to pay off debts from some of their other companies.
Complicated behind the scenes juggling, I guess.