Guitar Center Plans Bankruptcy Filing, Mulls Potential Store Closings
Retail TouchPoints
NOVEMBER 17, 2020
Supermajorities of the company’s noteholder groups have committed to vote in favor of the RSA plan, which Guitar Center forecasts will be completed before the end of 2020. Additionally, Guitar Center has negotiated $375 million in Debtor-In-Possession financing and plans to raise $335 million in new senior secured notes.
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