Guitar Center
Last year, Guitar Center had only a year left to pay off its debt of $900 million. This instrument retailer has been in business for more than 50 years already. Could it be that people no longer like guitars as much as they used to? CheatSheet said the company saw a 36 percent decline in electric guitar sales between 2005 and 2016. Even though it is currently in hot water, it still wants to open more stores. The problem abated temporarily when it got emergency loans. The EVP of merchandising and e-commerce said that the company was merely in transition but still going strong.
Guitar Center
Southeastern Grocers
Southeastern Grocers, the operator of Winn-Dixie, applied for bankruptcy to restructure the debt it has to pay. It shut down nearly 100 stores and paid its debt of $600 million. The company now wants to focus on rebranding and remodeling the stores that did not close. It remains hopeful that this will improve things. CNBC said that Southeastern Grocers suffers from competition with big-box stores and e-commerce businesses. Even though it is based in Canada, there are also stores in Alabama, North Carolina, South Carolina, Alabama, Mississippi, and Georgia.
Southeastern Grocers