Guitar Center
Guitar Center
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Back in 2108, the guitar shop was given one year to pay off a $900 million debt. The company has been around for more than 50 years now, but it looks like people don’t buy as many guitars as they used to. CheatSheet has reported that the store’s sales for electric guitars fell 36% between 2005 and 2016.
Nine West
Nine West
The shoe retailer currently has a debt of $1.5 billion and is in the process of negotiating to restructure it. It’s been said that this includes selling parts of the company in addition to filing for Chapter 11 bankruptcy. In an attempt to stay afloat, the company sold off Easy Spirit, another of its brands.