Guitar Center
In 2018, this supplier of rock n’ roll instruments was given a year to pay a $900 million debt. The company has been around for over 50 years now, but it seems like people don’t buy as many guitars as they used to. CheatSheet reported that Guitar Center’s sales for electric guitars fell 36 percent from 2005 to 2016. This instrument retailer may be experiencing some financial problems, but it still plans to open new stores. It managed to temporarily solve the crisis by getting emergency loans. Its EVP of merchandising and e-commerce said in an interview with Forbes that the company was in transition and that it was still going strong.
Guitar Center
Southeastern Grocers
The grocery chain Winn-Dixie isn’t really winning as it’s operator, Southeastern Grocers, filed for bankruptcy protection Chapter 11 in order to restructure its debt. It closed almost 100 stores and paid off $600 million of its debt. The company said that it has shifted its focus to remodeling and rebranding its stores which are still in operation. They are hoping that this will help improve things in the company. According to CNBC, Southeastern Grocers, which also operates Bi-Lo, faces competition like big-box stores like Target and Walmart as well as the e-commerce giant Amazon.com. Southeastern is based in Florida but it also runs stores in many other southern states such as Georgia, Alabama, Mississippi, and North and South Carolina.
Southeastern Grocers
