Guitar Center...closing in 2018?

Jalapeno

Student Of The Blues
I'd bet that less than 5% of the public knows that GC and MF are one in the same.
Why not just use the same name for both?

This one is really easy to answer. Sales tax. If there is a brick and mortar GC in your state (and your state has a sales tax) they collect the sales tax at time of purchase. For MF, you pay your sales tax when you do your taxes. MF doesn't collect it.

You do pay the sales tax from online purchases on your income tax form, don't you? ;) :whistle:

Eric
 

cowboy

Blues, Booze & BBQ
This one is really easy to answer. Sales tax. If there is a brick and mortar GC in your state (and your state has a sales tax) they collect the sales tax at time of purchase. For MF, you pay your sales tax when you do your taxes. MF doesn't collect it.

You do pay the sales tax from online purchases on your income tax form, don't you? ;) :whistle:

Eric

yep...every penny...:rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes:...later.

cowboy
 

Wildwood

Playin' Blues
Guitar Center has over a billion (that's billion...with a 'b') dollar debt load...half of that comes due in a couple years. Their credit rating sucks as well and their cash flow isn't much better. But they also have annual revenue of around 2 billion.

Moody's has said that they expect GC to refinance but not necessarily restructure.

They had a leveraged buyout in (I think) 2007 but all that did was put them deeper in debt. Many struggling retailers (Radio Shack, Wet Seal, Gymboree, etc., etc.) have done the same without much success.

What will happen to them remains to be see. I still prefer the local guys.
 
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giayank

Just another day in paradise
There's a GC ten mins from my house . I never go to it. I just don't feel comfortable there. It's not the fifteen yr old Jimmy Paige wanna be's or the metal head's showing off their shredding ability and latest greatest licks . That's the only part of the store I do like . Makes me smile and in some cases remember my younger days not talent wise just the self anointed coolness . Lmao.The store just seems sterile to me . It's suppose to be cool to be a musician. There's no vibe going on. You might as well be walking through walmart. I go around the corner from my house to a cool privately owned guitar store. There's a lounge in the back room with a couch and some stuffed arm chairs where the kids who take lessons there can get together and jam on saturday mornings. Everything is more expensive and if you want a premium setup you have to order it. Inventory is sparse mostly lower end beginner stuff.
I live in an area that has a enclave type feel to it. Walking distance to the shops and stores. This music shop is a 5 min walk from my house with a bank,coffee shop,antique store a few restaurants etc right around it. A couple times a yr on a day off from my normal life I go for a walk and visit. I end up meeting some new people, listen to the kids showing off and sounding better than I remember and coming home more in "tune" with who I think I am.
When the mom and pop's close I feel sad and a bit older. When the big concrete,bright lights and glass entry ways close I think somebody lost a job due to poor marketing. If GC closes they won't miss me and I won't miss them. There's no hostility. I wish them success. Our paths just don't cross.
 

The Reverend

Blues Newbie
I have 2 G.C. with in 15 miles from me. One I can't stand, the sales people are jerks. The other one, when I need something fast I'll shop there. Man, what a big difference in the sale people. Must be the management, I don't know. It wouldn't really bother me if they closed. I like S.W. anyway.
 
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