{"id":5412,"date":"2020-11-24T08:00:00","date_gmt":"2020-11-24T13:00:00","guid":{"rendered":"http:\/\/hoorfarlaw.com\/blog\/?p=5412"},"modified":"2020-11-23T12:56:32","modified_gmt":"2020-11-23T17:56:32","slug":"guitar-center-files-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/hoorfarlaw.com\/blog\/?p=5412","title":{"rendered":"Guitar Center Files for Bankruptcy"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"alignright size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"265\" height=\"190\" src=\"http:\/\/hoorfarlaw.com\/blog\/wp-content\/uploads\/2020\/11\/Guitar-Center.jpg\" alt=\"\" class=\"wp-image-5413\"\/><\/figure><\/div>\n\n\n\n<p>Guitar Center Inc filed for chapter 11 bankruptcy, as music lovers moved their shopping online during the coronavirus pandemic. The retailer has negotiated to have a total of $375 million in debtor-in-possession financing from its existing lenders and intends to raise $335 million in new senior secured notes. Earlier this month the company reached a restructuring agreement with key stakeholders that includes debt reduction by nearly $800 million and new equity investments of up to $165 million to recapitalize the company. The company said it has between $1 billion and $10 billion of both assets and liabilities. Guitar Center, which owns nearly 300 stores across the country, said business operations will continue without any interruption.<\/p>\n\n\n\n<p>Contemplating bankruptcy? Contact our office at 816-524-4949 or you can visit our website at\u00a0<a href=\"mailto:https:\/\/www.hoorfarlaw.com\/\">hoorfarlaw.com<\/a>\u00a0to schedule an appointment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Guitar Center Inc filed for chapter 11 bankruptcy, as music lovers moved their shopping online during the coronavirus pandemic. The retailer has negotiated to have a total of $375 million in debtor-in-possession financing from its existing lenders and intends to &hellip; <a href=\"https:\/\/hoorfarlaw.com\/blog\/?p=5412\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[267,76,736],"class_list":["post-5412","post","type-post","status-publish","format-standard","hentry","category-general","tag-attorney","tag-bankruptcy","tag-debt"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/5412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5412"}],"version-history":[{"count":1,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/5412\/revisions"}],"predecessor-version":[{"id":5414,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/5412\/revisions\/5414"}],"wp:attachment":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}