Guitar Center Officially Announces Bankruptcy Plans

In a story we continue to follow, and reported by financial magazines and Blabbermouth.net, Guitar Center, Inc., the world’s leading musical instrument retailer, announced today that it has entered into a comprehensive Restructuring Support Agreement (the “RSA”) with its key stakeholders, including its equity sponsor, a fund managed by the private equity group of Ares Management Corporation, new equity investors Brigade Capital Management and a fund managed by The Carlyle Group, as well as supermajorities of its noteholder groups. The RSA provides for a comprehensive transaction that will deleverage the Company’s balance sheet, enhance financial flexibility and provide additional liquidity to continue to support its vendors, suppliers and employees. The RSA positions the Company to return to the growth trajectory it had been on prior to the COVID pandemic. Continue reading

Ernie Ball Launches the Hetfield And Hammet Experience Contest

Ernie Ball, along with Guitar Center and Musician’s Friend, have launched a concert sure to please any Metallica fan (or any music fan really), the Hetfield + Hammet Experience. Offering a once-in-a-lifetime chance to Fly to Metallica HQ and hang with the legendary guitar duo. Details below.Continue reading