Guitar Center in trouble again

Discussed here:

I saw on a thread from an insider on Facebook (someone who's been in the biz for a long time) saying that |GC may be filing Chp 11 as soon as this week.

I’m torn on this. On one hand, good riddance. But on the other hand, as a former worker there, (albeit 20 years ago, there was about 40 stores when I started) it’s tough to see them go. I know the reputation GC has around the country, and some of it is deserved, though I think it also depends on the region. Here in the Northeast, we did pride ourselves as being up to date on all the gear, including brands we didn’t sell. “I don’t know,” was never an acceptable answer to any question, it was always “let me find out for you.” And making it up, at least in my store, would be your last act as an employee. The other downside is, in a lot of areas GC is your only option for a brick-and-mortar shop that sells beginner and lower-intermediate equipment as well as higher end gear. There’s tons of high end shops out there, and smaller numbers of lower, but not too many have all of the above. I do think a lot of their issues stem from selling to Bain - they made a lot of changes to the company and stretched thin, they weren’t able to get decent people who would actually work there anymore.

Not just GC, but it seems nearly every business purchased by Bain has been run into the ground. Or any other business purchased under the same model as Bain.

Some additional detail and a nice photo of the vintage room at the flagship store in West Hollywood here: https://guitar.com/features/opinion-analysis/guitar-center-bankruptcy/?utm_source=Guitar.com&utm_campaign=21c119291d-gdc_media_email_nl_w45_2Y20_weekly_digest&utm_medium=email&utm_term=0_f890f83bb6-21c119291d-50384139

Assuming GC survives, a major downsizing in the number of retail locations would seem inevitable. There's a GC in Gilroy California (garlic capital of the world). I live within driving distance of it and have never had a reason to visit. Also get regular emails from them about selling my gear for cash. The whole thing sounds like a desperation move.

I just posted on the other GC thread, but |I heard yesterday thy're filing chapter 11.
|It'll be seen how this affects them as a company, but the vendors and lenders are SOL for now.