JAN. 24 | WOODWIND & BRASSWIND | AUCTION
No WW&BW Auction, but GC Rebids

The awaited auction for The Woodwind & The Brasswind, held today in South Bend, Ind., was a non-event.

Anyone interested in bidding for the retailer, which filed for Chapter 11 bankruptcy last November, had to submit a bid for qualification by Jan. 22. No bids were received. Since the auction had been advertised in the Wall Street Journal, officials decided to hold the event, but nothing happened beyond a roll call.

According to an individual involved in the case, former lead bidder Guitar Center submitted a bid yesterday. The actual amount is unknown, but it is less than Guitar Center’s original bid of $37.1 million.

Guitar Center lost its lead bidder status to Steinway Musical Instruments on Dec. 15. Steinway, however, retracted its $40.5 million offer on Jan. 16, claiming that certain conditions necessary to close the transaction were not met. Allegedly, inventory said to be there is not there. Dennis Bamber, Woodwind & Brasswind president and CEO, has denied that claim.