Guitar Center has announced deals with debtor Ares Management and lender Wells Fargo Capital Finance that the Westlake Village-based music retailer said puts it in a significantly stronger financial position.

Affiliates of Los Angeles investment adviser Ares exchanged part of the Guitar Center debt it holds for preferred stock, Ares announced Thursday, becoming the company’s controlling owner...

Join our Membership to get the full story.


Are you a current Member? Sign In