Guitar Center
Guitar Center has been around for over 50 years, but it seems people buy fewer guitars nowadays. The rock ‘n’ roll instrument supplier was given one year to pay a $900 billion debt, the result of a 36% drop in sales from 2005 to 2016. Although they’re facing some issues as of late, they still plan to open new stores. The Executive Vice President of merchandising and e-commerce said the company was in a transition state and is still going strong.
Guitar Center
Nine West
Shoe retailer Nine West is currently looking to restructure by selling parts of the company and filing for Chapter 11 bankruptcy, all thanks to a debt of $1.5 billion. They have decided to let their Easy Spirit brand go, and closed all but 25 stores. The brand will also shy away from shoes and focus more on clothing and jewelry with brands like Kasper Grouper, Anne Klein, and One Jeanswear Group.
Nine West
