GC closing stores?

[Jacksonchick]

I heard today, if it's true or not that GC sold out and they will be closing up to 35 stores. Anyone else hear about it?

[jacksoncsplayer]

I searched for info on this Robin, but I couldn't find anything. This could be interesting if it turns out to be true.

Marc

[Rich#6]

I didn't here anything about stores closing, but I think there are too many anyway. I do have a long drive to work but when you can hit 3 of them on the trip it's a bit of overkill no matter what the distance.

[Jack Napalm]

I have heard there are up to 40 stores closing and GC is in a cash crunch right now.

[Jacksonchick]

I have heard there are up to 40 stores closing and GC is in a cash crunch right now.

I heard 35 Jack so it must be right maybe? I guess the same company that ownes Buger King bought them out??

[Shibs]

That's great.... lets hope they close more of them! I hate GC, I wouldn't expect to see the inventory drop in price, I'm sure that they will do some sales etc... but they will distribute the gear to all of their other stores. by the way... if they are only closing 35 or 40 stores, than how much of the company is that? 10%...MAYBE? I hope that they all close down!

[10secondLX]

I have heard there are up to 40 stores closing and GC is in a cash crunch right now.

I don't doubt they are in a cash crunch now. It floors me every time I walk into a GC and see the amount of "new" beat the hell up guitars, amps etc.. This stuff in most cases probably won't be sold as it's a step above junk IMO. I just shake my head looking at new $3000.00 Gibbys & PRS's that look like they have been on tour for the last 20 years or so.

[Emthrax]

Guitarget's sinkin'? what ever will we do?!

[Axewielder]

With them being privately owned now, we don't have as much visibility into what's going on over there anymore.

[thetroy]

Guitar Center has ~200 stores, so 40 is a BIG number

[markD]

that place sucks so bad. the ones by me never seem to have anything but cheap guitars. just like MARS - tons of red squier strats and sunburst epiphone les pauls...oh, and JS series jacksons...HAHAHAHAHA

[DonP]

The big rage these days is taking companies private, doing some quick fixes to make them worth more, then flipping them.

The problem I've seen at the last few companies I've worked at is that the private firm doesn't know shit about what they are doing and drives the company into the ground. The only people who make out are the exec's with the golden parachutes.

Sounds like what's happening here - close the dog stores, getting rid of employees and inventory that is sitting there, etc.

[JacksonDean]

Whatever you think of GC, it's not a great idea to gloat that they're stores are closing. I typically try to deal with my local companies preferring to pay a little higher cost (if that's the case) than to deal with GC or eBay.

But those stores's closing mean there are people out of work, and avenues of availability that have now been closed for the area.

[Jason1212]

GC serves a particular audience. That audience tends to be younger persons generally teen agers. I kind of like that. It keeps them out of the local music store and I dont have to deal with them when I go to it. The local stores in my town are fortunate though as the nearest GC is 15 miles away. That and their stock is much nicer than GC so why bother making the trip?

[Bengal]

They have overextended themselves. Seems to me anyway. A GC in Des Moines, Iowa? Wha? When did we need that? Oh yeah, we didn't...

It's the nature of business. Stores come and go. I'm not "gloating" but I'm not going to shed a tear either. I don't buy new or used stuff from them anyway so it's no biggie to me. As for all the "people" that are out of work? Taco Johns is hiring. But damn I get pissed when they screw up my order...