In the wake of Gibson Brands Inc. declaring for bankruptcy on May 1, Guitar Center issued the following statement:
“Based on Gibson’s press release announcing its bankruptcy, we do not expect any substantial disruption to our business. Gibson has noted that its restructuring plan includes a focus on maintaining its core musical instruments business with minimal disruption. Gibson is a premium brand within guitars that continues to perform well and despite media reports suggesting the contrary, guitars remain a central and growing interest for musicians with sales stable or increasing for most of the past decade. In fact, Guitar Center’s guitar sales over the past year have been the strongest we have seen in our history. We think this bodes well for the future and for future generations to develop an interest in and love for playing music.”
— Jeannine D’Addario, chief marketing, communications and customer officer at Guitar Center.