When you turn on MTV these days, you'd be lucky to find it playing music, let alone rock and roll music. Everyone seems to be into rap or hip hop, or electronic music. You just don't see guitars as much these days, and that's bad news for the Guitar Center. They may have been trading for over half a century and did very well when rock was 'in', but now it isn't, they're up against it. Their current debts sit at $900m, and sales dropped 36% in the ten years from 2005 to 2015.
Somehow, the firm managed to agree a refinancing deal for its debt and has responded to the drop in sales by opening new stores in what it considers to be better locations. It's a bold move, and we hope it works out for them. What they could really use is someone to make rock and roll cool again!