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US retailer Guitar Center files for bankruptcy – Fox Business

Guitar Center owns nearly 300 stores across the country

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Guitar Center Inc, the largest U.S. retailer of music instruments and equipment, filed for Chapter 11 bankruptcy on Saturday, as music lovers moved their shopping online during the coronavirus pandemic.
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The retailer has negotiated to have a total of $375 million in debtor-in-possession financing from its existing lenders and intends to raise $335 million in new senior secured notes, the company said in a statement.
Earlier this month the company reached…

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