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Kelly
Well-known member
I think it'll actually happen this time. I have 5 stores locally, all have very little inventory.
Markedman
Well-known member
The article says they had $2.3 Billion in sales last year and $1.3 billion in debt. Can they pull it out even after missing a $45,000,000.00 interest only payment even if they're pulling in Covid cash? (Fender has already suppased any year for sales this year because of Covid.) I imagine all the music stores are doing better this year.
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Racerxrated
Well-known member
As much as they are selling decent used gear quickly, they aren't seeing the used inventory that they are used to having because of COVID restrictions and limited store hours. All the searching I usually do shows literally 1/4 the normal used inventory in everything. When a decent JMP/JCM shows up it's gonzo within a day or two.
stratjacket
Well-known member
I don’t think GC is going anywhere. They will eventually file bankruptcy which will allow them to restructure their debt and create a new business plan. Hopefully that will mean new and improved management and overall a better GC. But that’s a long ways out.
vultures
Well-known member
Fender and Gibson have and will sooner sell them guitars at or below their cost to keep them afloat.
stratjacket
Well-known member
vultures":4bsjhuld said:
Yeah, that makes sense. They could either lose most of the money GC probably owes them in a bankruptcy settlement or lose less money to delay and also keep their own books looking better by not absorbing a big revenue loss.
