Guitar Center Is Preparing for a Possible Bankruptcy

Jason Tate

The New York Times:

Guitar Center has begun to prepare for a potential bankruptcy filing that could come as soon as next month, people with knowledge of the situation said. The retailer missed an interest payment of roughly $45 million earlier this month, setting off a 30-day grace period that could end in default, the people said.

The country’s largest retailer of musical instruments has reached out to creditors to discuss a plan that would involve the company filing for bankruptcy this year and emerging from it in early 2021, said the people, who requested anonymity because the talks are confidential. A spokesperson for Guitar Center did not respond to a request for comment.

Review: Give Me A Reason – Vice Versa

Give Me A Reason - Vice Versa
Adam Grundy

The Swiss-based pop-punk band Give Me A Reason have created a solid debut record in Vice Versa. Produced by Blake Roses (Oh, Weatherly), the band comes storming onto the pop-punk scene with vibrant guitars, bouncy vocals, and solid songwriting. The band’s sound is reminiscent of early All Time Low, with a mix of Boys Like Girls and Cartel thrown into the mix. While the band doesn’t stray too far from their influences, the music that comes pouring through the speakers is undeniable ear candy.

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Taylor Swift Tops the Charts

Taylor Swift
Jason Tate

Taylor Swift once again is at the top of the charts this week:

Taylor Swift’s Folklore surges back to No. 1 on the Billboard 200 chart for an eighth nonconsecutive week on top, as the set jumps from No. 10 with 77,000 equivalent album units earned in the U.S. in the week ending Oct. 22 (up 170%), according to Nielsen Music/MRC Data.

The album’s huge increase is owed to an explosion of sales generated from Swift’s official webstore, where the superstar sold autographed CDs of the set for $25 each for a limited time. Of Folklore’s units earned for the week, album sales comprised 57,000 of that figure – a gain of 709%.

Will Disney Kill Movie Theaters?

Disney+
Deanna Chapman

Movie theaters may have opened back up, but they aren’t back for good. Cineworld recently suspended operations of their theaters, which includes Regal Cinemas. Cineworld comes in second only to AMC when it comes to being a global exhibitor. With them making that big of a move, I imagine AMC will close back up before the end of 2020, as well. The biggest announcement as of late though was when Disney announced that they were restructuring to account for a greater focus on streaming. Will this move help kill movie theaters even faster than they’ve already been dying?

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