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WESTLAKE VILLAGE (CNS) - Westlake Village-based Guitar Center, the country's largest retailer of instruments and musical equipment, joined a growing list of companies impacted by the economic toll of the COVID-19 pandemic, filing for bankruptcy, according to a report Sunday.Guitar Center has about 300 stores across the U.S., and its sister brands include Music & Arts, which has more than 200 stores specializing in band and orchestral instruments for sale and rent, according to the Los Angeles Times.The filing in the Eastern District of Virginia gives the company a break on its debts by letting it stay in business as it seeks to carry out a restructuring plan, the Times reported.According to the report, a restructuring support agreement announced Nov. 13 requires new financing backed by existing creditors, in addition to 5 million in new equity investments from its parent company, Ares Management Corp., as well as the Carlyle Group and Brigade Capital Management.Moody's Investor Service explained that the coronavirus shutdown has hit nonessential retailers hard, and that Guitar Center was particularly vulnerable because musical instruments are highly discretionary item. The company's stores were shut down in mid-March when the pandemic began in earnest. Since then, the Times reported, it has reopened some locations while maintaining online operations.Guitar Center claims it has liabilities of between billion and billion, with a similar range for its assets, according to the filing.According to the report, Ares acquired the company in 2014 in an out-of-court restructuring of Guitar Center's substantial debt load, the result of a deal by Bain Capital LP in 2007 to take it private. 1728

WICHITA FALLS, Texas — A man who was in jail awaiting trial for charges of sexually assaulting a child was released after his parents won the lottery and he posted a 0,000 bond.Jason Carlile is the 47-year-old suspect's name, and he is out from behind bars with an ankle bracelet for monitoring by authorities as well as a curfew. Carlile is the same man who was convicted in 2007 of buying a 15-year-old girl from the girl's mother. He served a three-year sentence.The girl's mother was also given a prison sentence in the incident, KFDX reports.Carlile's mother and stepdad won million in the Oct. 31 Lotto Texas drawing. It was purchased at a Fill and Chill store.The Times Record News reports Carlile has a history of sex crimes involving children.In 1994, there was an arrest warrant for him for exposing the genitals of another adult to a child and recording it.  914

WILSON, N.C. - The Wilson (North Carolina) Police Department have arrested and charged a man in connection to a Sunday night shooting that left a five-year-old boy dead.Police say 25-year-old Darius N. Sessoms has been charged with first degree murder and has received no bond.Sessoms was found inside a home on Monday in Goldsboro after a warrant was put out for his arrest in connection to the shooting that took place Sunday night.According to officials, on Sunday around 5:33 p.m., officials received a call regarding a shooting.5-year-old Cannon Hinnant was found suffering from a gunshot wound. He was taken to a local hospital where he later died.The US Marshals’ Carolinas Violent Fugitive Task Force, Goldsboro Police Department, and Wayne County Sheriff's Department assisted Wilson Police in arresting Sessoms.The Wilson Police Department is encouraging anyone with information regarding this case to contact the Wilson Police Department at 252-399-2323 or Crime Stoppers at 252-243-2255.This article was written by Arianna Herriott for WTKR. 1062

Why are stocks falling again? President Donald Trump says it's because Democrats are gearing up to use their impending control of the House of Representatives to investigate him. As always, when it comes to the markets, the real answer is complicated.The Dow fell by more than 600 points on Monday, dragged down by investors' concerns about the tech sector and the rising dollar. The Nasdaq fell 2% and the broader S&P 500 fell 1.2%.Apple (AAPL) fell 5% after supplier Lumentum cut its earnings and sales forecast because of weak demand, and JPMorgan cut its target price on Apple's stock. That weighed on other technology stocks, including Amazon (AMZN) and Tesla (TSLA) -- down 4% -- as well as Facebook, which fell 3%. Google (GOOGL), Netflix (NFLX) and Microsoft (MSFT) were all down more than 2%.The strong dollar also weighed on stocks. The US currency surged to a 16-month high because investors fear the European economy could stall if no Brexit deal is reached this week. Prospects of another rate hike from the Fed next month have also helped lift the dollar. The rising dollar is a signal of a strong economy, but it hurts sales and profits for American companies that do business overseas.Though Trump blamed Democrats for the drop, the Dow had actually bounced back since the midterms, rising last week in its best showing since March. Wall Street tends to like stagnation in Washington, so investors are actually just fine with Democrats taking the House.As for what Trump termed the "prospect of presidential harassment," there is not much evidence the stock market will bat an eye if Democratic leaders in the House begin investigations into the Trump administration. Stocks rose before, during and after President Bill Clinton's impeachment. 1800

WESTFIELD, New Jersey — A New Jersey family says it was scared away from its home after a series of cryptic and threatening letters from someone known as "The Watcher."The family is now speaking out about its own real-life horror movie.Derek and Maria Broaddus were too spooked to ever move into their .3 million dream home in Westfield, New Jersey.They spoke with New York magazine in their first public interview after the scary ordeal that went on for years.The first letter arrived one night in June 2014. Derek had just finished an evening of painting his new six-bedroom home at 657 Boulevard.Dearest new neighbor at 657 Boulevard, 647

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