Posted by: captain Russ
What About GC... - 09/11/06 10:38 AM
I'm looking for advice from DanO, George, or other retailers.
I'm the trustee for the widow of a long-time friend, who owned Carl's Music in Lexington, Kentucky. the store is the primary asset for the widow. We have just found out that Guitar Center is opening A strore in a local mall before Christmas.
Sales volume has gone continuously down since Carl's death. The widow gets a salary, which is far less than the rent on the Store property. A daughter runs the store, and she has chased off over half the business in the last three years.
Specifically...what is the immediate threat, other than additional competition? Are prices better than Musician's Friend, which seems to be the benchmark retail point around here?
We need to make a decision to try to sell, close the doors hire new managemewnt, etc. It's sad, because Carl built the premier store in the area by strength of personality, honesty and total dedication.
What can you tell me about GC?
Thanks,
Russ
I'm the trustee for the widow of a long-time friend, who owned Carl's Music in Lexington, Kentucky. the store is the primary asset for the widow. We have just found out that Guitar Center is opening A strore in a local mall before Christmas.
Sales volume has gone continuously down since Carl's death. The widow gets a salary, which is far less than the rent on the Store property. A daughter runs the store, and she has chased off over half the business in the last three years.
Specifically...what is the immediate threat, other than additional competition? Are prices better than Musician's Friend, which seems to be the benchmark retail point around here?
We need to make a decision to try to sell, close the doors hire new managemewnt, etc. It's sad, because Carl built the premier store in the area by strength of personality, honesty and total dedication.
What can you tell me about GC?
Thanks,
Russ