Guitar Center filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission, according to Debtwire and Retail Dive. Anonymous sources were cited in these reports and the Music & Sound Retailer has yet to receive official confirmation.

According to the reports, Guitar Center has seen sales and earnings increase significantly both this year and last year.

This report follows news in December that Guitar Center gained court approval for a post-bankruptcy restructuring plan  “This approval represents a momentous and positive milestone in our long-term strategy,” Ron Japinga, CEO of Guitar Center, said in December. “Throughout this process, we have continued to serve our customers in-store and online, helping even more people make music during these unique times. I am grateful for our customers, associates, vendors and other partners for their unwavering support throughout this process. With our strengthened financial position, we will continue to reinvest and grow our business. We are nearing the end of a successful holiday season and I am excited about our bright future.”

According to Retail Dive, “Guitar Center’s reported IPO filing is a sign that the company is in decent health, good enough at least that management believes it has something investors could be interested in. An IPO could also mean an influx of capital that could be used to reduce its remaining debt and to invest in its operations.”

It is unknown at this time when the actual IPO might take place or what the price of Guitar Center stock would cost investors per share.

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