May 01, 2020 I Finance
Guitar Center Skips Bonds Payments
Guitar Center Inc., the largest U.S. retailer of musicalinstruments and equipment, is in the process of working out a deal with its creditors after missing payments on two of its bonds, according to an article published by Bloomberg on April 27.
Guitar Center failed to pay interest on its unsecured bonds due 2022 and first-lien bonds due 2021, Bloomberg’s anonymous sources said. Currently, the retailer is seeking advice from the investment bank Houlihan Lokey, which served as a previous financial adviser for Guitar Center.
Guitar Center declined to comment.
