GC restructuring

Bill Ashton

Senior Member
Joined
Sep 29, 2006
Messages
4,387
Reaction score
989
Location
North Central Massachusetts
Guild Total
4
If TPC is holding some of that debt (remember them closing New Hartford?), GC is sunk.

J.Crew looks to be in trouble, awww poor TPC.

Haven't eaten at Burger King since, but don't think they miss me...
 

Kitarkus

Member
Joined
Feb 10, 2013
Messages
676
Reaction score
15
Despite my lack of love for GC....I don't want to see them fail.
 

mavuser

Enlightened Member
Joined
Sep 15, 2010
Messages
8,128
Reaction score
2,636
Location
New York
a couple thoughts...this should help dismantle the CITES regulations as they pertain to guitars, and...

things like guitar strings, picks, etc may skyrocket in price?
 

Westerly Wood

Venerated Member
Joined
Mar 21, 2007
Messages
13,323
Reaction score
6,497
Guild Total
2
damn, that is where i get my strings most months. not shocked however, when i go in there, i dont see tons of customers, though could be time of day etc. and the acoustic selection is woeful at the GC i frequent. even the sting choice is not awesome.

this is quite telling:

"An effort to restructure Guitar Center's debt could ease the company’s burden, but the guitar retailer and Ares Capital, which took over Guitar Center in 2014, would need its lenders on board with a restructuring plan."
 
Last edited:

fronobulax

Bassist, GAD and the Hot Mess Mods
Joined
May 3, 2007
Messages
24,708
Reaction score
8,836
Location
Central Virginia, USA
Guild Total
5
No mention of Musicians Friend...

Why would you expect it to be mentioned? If the parent company goes under then the subsidiaries go with it. Were you perhaps thinking it is doing so well that spinning it off might raise funds for the parent company?
 

fronobulax

Bassist, GAD and the Hot Mess Mods
Joined
May 3, 2007
Messages
24,708
Reaction score
8,836
Location
Central Virginia, USA
Guild Total
5
a couple thoughts...this should help dismantle the CITES regulations as they pertain to guitars, and...

things like guitar strings, picks, etc may skyrocket in price?

As usual, I'm not following you on these. I'm thinking that GC is a distributor and retailer, rather than a manufacturer. I don't see how import/export regulations are effected and if the demand for strings, etc. remains the same, other suppliers will pick up the slack.
 

Kitarkus

Member
Joined
Feb 10, 2013
Messages
676
Reaction score
15
a couple thoughts...this should help dismantle the CITES regulations as they pertain to guitars, and...

things like guitar strings, picks, etc may skyrocket in price?

Nah...absolutely not. All of these commodities are readily available...particularly online.
 

Kitarkus

Member
Joined
Feb 10, 2013
Messages
676
Reaction score
15
damn, that is where i get my strings most months. not shocked however, when i go in there, i dont see tons of customers, though could be time of day etc. and the acoustic selection is woeful at the GC i frequent. even the sting choice is not awesome.

this is quite telling:

"An effort to restructure Guitar Center's debt could ease the company’s burden, but the guitar retailer and Ares Capital, which took over Guitar Center in 2014, would need its lenders on board with a restructuring plan."

I'm always surprised at how many people are at my GC....mostly fiddling around. I am equally surprised to see that....when the cash register line is 2+ deep.....just how incompetent the sales people are at ringing people up and completing transactions. I find the place to be a real p in the a.
 

Westerly Wood

Venerated Member
Joined
Mar 21, 2007
Messages
13,323
Reaction score
6,497
Guild Total
2
I.just how incompetent the sales people are at ringing people up and completing transactions. I find the place to be a real p in the a.

oh me too, that is the most stressful part of the trip, getting rung up. and it is a rather hairy drive to get there too...but the ringing up of the sale is the real nail biter.
 

mavuser

Enlightened Member
Joined
Sep 15, 2010
Messages
8,128
Reaction score
2,636
Location
New York
GC is in major debt (understatement). and Guitar compaines like Martin have voiced thier claimed losses due to CITES. Gibson and Fender have debt (to some degree associated with GC) and Gibson had a ton of problems with the wood laws. my point is simply that overall CITES hurts GC does not help it (where everything is connected) with pressure from enough major instrument companies, banks, lenders etc, ii'd expect that CITES to loosen up quite a bit. bottom line, these major league companies together do a ton of business internationally. almost every single guitar out there has some rw, ebony, etc...
 

PittPastor

Member
Joined
Sep 26, 2017
Messages
756
Reaction score
59
Location
Western Pennsylvania
Well, before they go under, I hope they give a clue. I'll have that Guild Artist Award shipped to my GC, wait until the going out of business sale, and get it half off!
 

Westerly Wood

Venerated Member
Joined
Mar 21, 2007
Messages
13,323
Reaction score
6,497
Guild Total
2
GC is in major debt (understatement). and Guitar compaines like Martin have voiced thier claimed losses due to CITES. Gibson and Fender have debt (to some degree associated with GC) and Gibson had a ton of problems with the wood laws. my point is simply that overall CITES hurts GC does not help it (where everything is connected) with pressure from enough major instrument companies, banks, lenders etc, ii'd expect that CITES to loosen up quite a bit. bottom line, these major league companies together do a ton of business internationally. almost every single guitar out there has some rw, ebony, etc...

Eric, sounds like a great time for Guild to really take advantage and get out there!

LOL
 
Last edited:

adorshki

Reverential Member
Joined
Aug 21, 2009
Messages
34,176
Reaction score
6,790
Location
Sillycon Valley CA
Eric, sounds like a great time for Guild to really take advantage and get out there!

LOL

Somehow I get the sense that Mav perceives CITES as some kind of entity that can simply unilaterally decide what when and where to change course or re-classify materials on a whim, and that it tells its member nations what to do.
Um nope, although legally biniding in terms of being a treaty, it's entirely voluntary and member nations have to create their own enforcement regulations.
https://cites.org/legislation
It's a convention that meets periodically to hear member nations' motions on what to add or remove from CITES regulation and literally has no enforcement power of its own.
They ain't even gonna gonna meet again to consider new listings or changes until July 2018.
https://cites.org/eng/news/calendar.php
If you think that's gonna be soon enough to do anything for GC or if any of the member nations with a dog in the lumber fight even cares whether or not GC survives, well , go ahead and keep thinking it.
CITES was created precisely because the kind of commercial pressure Mav referred to is the root of the problem.
THATS why all the regulatory measures are aimed at regulating trade.
It's where the profit comes from.
Yielding to commercial pressure is completely antithetical to their whole reason for existence.
See the Lumber Liquidators decision just last year:
https://cites.org/legislation
You think the US government's gonna do a 180 that'll completely reverse the intended effects of that penalty on LL's pirate suppliers?
I'm outta here.
 
Last edited:

NEONMOONY

Member
Joined
Jun 2, 2009
Messages
874
Reaction score
5
Location
Between the Bar and the Jukebox!
Kitarkus said
..... I am equally surprised to see that....when the cash register line is 2+ deep.....just how incompetent the sales people are at ringing people up and completing transactions. I find the place to be a real p in the a.
They need to take lessons from Aldi's when it comes to checking out.
 

Neal

Senior Member
Joined
Nov 11, 2013
Messages
4,856
Reaction score
1,627
Location
Charlottesville, VA
When one business model runs its course, others are happy to step into the void.

In this case, internet shops that offer no-hassle returns.
 
Top