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Guitar Center Inc. Restructuring Announcement

We are pleased to share an important and positive step that will enhance our success for the long-term. As previously announced on November 13, we agreed with our lenders and owners to a financial recapitalization that will strengthen our company’s financial position. This agreement will allow us to significantly reduce our debt and reinvest in our business so we can better serve our customers. To facilitate this process, we voluntarily filed for restructuring under chapter 11. We expect this to be a quick process.

You should know there are no changes to our operations.

  • You can make purchases in stores and place orders online or through our call centers. No order will be delayed due to this restructuring process, however, like most retailers, the COVID-19 pandemic is impacting shipping overall and there could be unexpected delays as a result.
  • Our stores remain open and are operating at normal business hours, pending local COVID-19 restrictions. Please check our store locator for specific store hours. Curbside Pickup, Buy On Line Pick Up in Store and all of our services – rentals, repairs and lessons – are available to you.
  • You can continue to return products in accordance with our current return policy. There will be no impact on your returns and refunds as a result of this process.
  • All gift cards will be honored, and we look forward to helping you shop using your gift cards.
  • All of our services will remain the same as nothing impacting our customers will be changing as a result of this effort. This includes but is not limited to: Financing, Warranty Coverage, Prepaid Lessons, Auto bill (EZPay), Rentals, Repairs, Orders, Merchandise Credits, Deposits, Layaway, etc.

This is strictly a financial exercise, not an operational change. There is no impact to our daily operations. We intend to pay all vendors in full in the normal course. We will continue paying employees and assuring benefits without interruption.

We are very excited by the new opportunities this will provide our company. This announcement is a positive step forward for our business, for our customers, and for the communities in which we work.

Most importantly, we are staying focused on helping more customers make music. Our mission of putting more music in the world couldn’t be more important than right now and as such, this endeavor continues to drive our focus every day.

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