Guitar Center, a mecca for new and used, affordable musical instruments, has filed for bankruptcy.
On Saturday, Nov. 21, the retail chain - and the largest seller of musical equipment in the U.S., said it was filing for Chapter 11 bankruptcy, according to MarketWatch.
Guitar Center plans to keep its U.S. 300 stores open during the bankruptcy process.
The filing is expected to help Guitar Center reduce its debt by $800 million.
As is the case with many recent bankruptcy filings, Guitar Center said economic restrictions brought on by the global COVID-19 pandemic have negatively affected business.
There are 8 Guitar Center's in Massachusetts -including Millbury and West Springfield - and 5 in Connecticut - including Manchester and Southington.
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