YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Guitar Center Inc. filed for Chapter 11 bankruptcy.
The musical instrument and equipment retailer reached a deal for $375 million in debtor-in-possession financing. The company also is seeking to raise $335 million in a debt round.
Guitar Center earlier this month signed a restructuring agreement that includes a debt reduction of nearly $800 million. The deal also includes new equity investments of up to $165 million.
Read more from Reuters.
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