Connect with us

Business

Guitar Center Files for Chapter 11 Bankruptcy In Wake of Debt Restructure – Billboard

Guitar Center, the nation’s largest retailer of musical instruments, has filed for Chapter 11 bankruptcy protection.

Published

on

post featured image
ADVERTISEMENT

The agreement additionally includes $165 million in new equity investments from a fund managed by the private equity group of Guitar Centers controlling owner Ares Management Corporation (which acquired a majority stake in the company in 2014), new investor Brigade Capital Management, a fund managed by The Carlyle Group and other lenders.
The company says its business operations will continue uninterrupted during the debt restructuring process and that it will continue to pay its vendors, suppliers…

Click here to view the original article.

Continue Reading
Advertisement

You might also like ...

post featured image
How financing SPAC takeovers became Wall Street’s new favorite trade – CNBC
post featured image
Stock market live updates: GameStop erases 140% rally, S&P 500 and Nasdaq down from open – CNBC
post featured image
SpaceX set to launch its next Starship prototype on Monday – Ars Technica