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Guitar Center Files For Bankruptcy

Guitar Center, a mecca for new and used, affordable musical instruments, has filed for bankruptcy.

Guitar Center

Guitar Center

 Photo Credit: Kazuhisa OTSUBO from Tokyo, Japan, CC BY 2.0 <https://creativecommons.org/licenses/by/2.0>, via Wikimedia Commons
Guitar Center

Guitar Center

 Photo Credit: By Dru Bloomfield - Flickr: Guitar Heaven, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=18775825
Kristin Palpini

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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