YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Guitar Center Inc., the largest U.S. retailer of musical instruments and equipment, is considering a debt restructuring after skipping payments on two of its bonds, people familiar with the matter told Bloomberg.
The company has temporarily closed most of its 300 U.S. stores amid the coronavirus outbreak.
As of February, the retailer had $1.2 billion in debt, with roughly $3 million of cash on its balance sheet, the sources told Bloomberg.
Read more from Bloomberg.
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