It may mean that it's going to be harder for WWBW to find another suitor.
(You lawyers in the Armani suits, please note that I said "usually", "may", "likely" and other such weasel words. I'm just guessing.)
Update on WW&BW
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Chuck(G)
- 6 valves
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- Location: Not out of the woods yet.
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Failure of the "due dilligence" phase of an acquisition is not usually a good sign. It likely means that the guys with the sharp pencils went over C-S's entire financial position, including any potential liabilities and found something they didn't like.
It may mean that it's going to be harder for WWBW to find another suitor.
(You lawyers in the Armani suits, please note that I said "usually", "may", "likely" and other such weasel words. I'm just guessing.)
It may mean that it's going to be harder for WWBW to find another suitor.
(You lawyers in the Armani suits, please note that I said "usually", "may", "likely" and other such weasel words. I'm just guessing.)
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SplatterTone
- 5 valves
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- Location: Tulsa, OK
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The new buyer will be the Chinese guy on Southpark. The new name: City Band Instruments ... pronounced just like the Southpark guy pronounces it.
Good signature lines: http://tinyurl.com/a47spm
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KevinMadden
- 3 valves
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- Location: Ledgewood, NJ / Lincoln, NE
G*ddamn Mongolians! dent up my city tuba! damn Mongolians!SplatterTone wrote:The new buyer will be the Chinese guy on Southpark. The new name: City Band Instruments ... pronounced just like the Southpark guy pronounces it.
Ithaca College, B.M. 2009
University of Nebraska - Lincoln, M.M. 2017, D.M.A. 2020
Wessex Artiste
Wessex "Grand" BBb, Wessex Solo Eb, Wessex Dulce
University of Nebraska - Lincoln, M.M. 2017, D.M.A. 2020
Wessex Artiste
Wessex "Grand" BBb, Wessex Solo Eb, Wessex Dulce
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ASTuba
- pro musician
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Another news story to add to the post:
No WW&BW Auction, but GC Rebids
The awaited auction for The Woodwind & The Brasswind, held today in South Bend, Ind., was a non-event.
Anyone interested in bidding for the retailer, which filed for Chapter 11 bankruptcy last November, had to submit a bid for qualification by Jan. 22. No bids were received. Since the auction had been advertised in the Wall Street Journal, officials decided to hold the event, but nothing happened beyond a roll call.
According to an individual involved in the case, former lead bidder Guitar Center submitted a bid yesterday. The actual amount is unknown, but it is less than Guitar Center’s original bid of $37.1 million.
Guitar Center lost its lead bidder status to Steinway Musical Instruments on Dec. 15. Steinway, however, retracted its $40.5 million offer on Jan. 16, claiming that certain conditions necessary to close the transaction were not met. Allegedly, inventory said to be there is not there. Dennis Bamber, Woodwind & Brasswind president and CEO, has denied that claim.
No WW&BW Auction, but GC Rebids
The awaited auction for The Woodwind & The Brasswind, held today in South Bend, Ind., was a non-event.
Anyone interested in bidding for the retailer, which filed for Chapter 11 bankruptcy last November, had to submit a bid for qualification by Jan. 22. No bids were received. Since the auction had been advertised in the Wall Street Journal, officials decided to hold the event, but nothing happened beyond a roll call.
According to an individual involved in the case, former lead bidder Guitar Center submitted a bid yesterday. The actual amount is unknown, but it is less than Guitar Center’s original bid of $37.1 million.
Guitar Center lost its lead bidder status to Steinway Musical Instruments on Dec. 15. Steinway, however, retracted its $40.5 million offer on Jan. 16, claiming that certain conditions necessary to close the transaction were not met. Allegedly, inventory said to be there is not there. Dennis Bamber, Woodwind & Brasswind president and CEO, has denied that claim.
Andy Smith, DMA
http://www.asmithtuba.com
http://www.asmithtuba.com