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(KGTV) — Guitar Center, the county's largest musical instrument retailer, is expected to file for Chapter 11 bankruptcy after reaching a deal to restructure its debt.According to Bloomberg, the retailer's restructuring plan aims to reduce its debt by 0 million. "With ten consecutive quarters of growth prior to the impact from COVID-19, we have been pleased with our resilient financial performance during these challenging times created by the pandemic," Guitar Center CEO Ron Japinga said in a statement. "As a result of this financial restructuring process, we will be better equipped to execute on and invest in our strategic growth initiatives and we will continue delivering through the strength of our brands, availability of our stores, customer-focused associate relationships, innovative music education programs and our expanding digital solutions."The plan includes 5 million in new investments from funds managed by the company's private equity owner Ares Management, the Carlyle Group, and Brigade Capital Management, Bloomberg reported.Filing for Chapter 11 would allow Guitar Center to keep operating while the company works to turn around its business performance. Employees and vendors would still be paid as usual under the move as well.The company's announcement adds that its services will not be interrupted during the debt restructuring, and that, prepaid lessons, rentals, gift cards, and all merchandise credits will still be honored.Guitar Center has three locations in San Diego County in San Marcos, La Mesa, and San Ysidro. 1567
(KGTV) - A new study claims Californians are dishing out extra cash due to the condition of the state's roads while supporters of an effort to repeal the gas tax slammed the study for neglecting to tell the whole truth. The study, conducted by TRIP, claims that driving on California roadways costs motorists statewide an estimated billion per year. The estimate is based on vehicle operating costs as a result of driving on rough roads, time and gas lost due to traffic, and the costs of traffic accidents.The study claims 64 percent of San Diego’s major roads and highways are in either poor or mediocre condition.When it comes to San Diego’s bridges, the study claims 64 of them are deemed structurally deficient and in need of improvement.Meanwhile, supporters of the gas tax repeal slammed the study as being a PR stunt by lawmakers to get more money out of California residents. “Don’t be fooled by a PR stunt by politicians of a few projects being approved in the middle of the Gas Tax Repeal campaign. Only a fraction of the existing gas tax goes to any road projects currently with the rest stolen and wasted by politicians. We could fix all of our roads if we simply allocated 100 percent of gas tax revenues to roads, but the politicians will never do that because this has never been about fixing roads, but rather getting more of your money," said Carl DeMaio, chairman of Yes on 6, a statewide effort to repeal the tax. 1486
(KGTV) - Embattled Congressman Duncan Hunter faces more questions from the Federal Election Commission regarding campaign finances.The letter claims 4, 923.04 in un-itemized receipts were not reported properly. When contributions from an individual reach 0 for an election cycle, the itemization must include pertinent details.Hunter's spokesman claims the request for more information is commonplace and that many elected officials receive these notifications."Congressman Hunter's campaign has always complied with all regulations and reporting requirements concerning federal campaign laws akgwill continue to do so," said Michael Harrison.Hunter faces charges for misusing more than 0,000 of campaign finances and goes to court in the new year. RELATED:-- Prosecutors: How Hunter misused campaign funds-- Motion: Hunter spent campaign funds on "desire for intimacy"-- Judge allowing evidence of Hunter's alleged affairs at trial-- Former staffer claims Hunter groped her at DC party in 2014 1011
(KGTV) - Did a hearse driver really use the dead body he was transporting as an excuse to use the carpool lane?Yes.The Nevada Highway Patrol pulled over the hearse this week on I-15 in Las Vegas.The driver said he thought the deceased could be counted as a second person in the car.The trooper disagreed, but let the driver off with a warning.To be clear, you need two living people in a vehicle to use the HOV lane. 424
(KGTV) - Is a company planning to roll out dockless pogo sticks in San Francisco this year?Yes, at least for now.A Swedish company called "Cangoroo" says it wants to roll out the pogo sticks in 2 Swedish cities this summer and then in London and San Francisco this fall.The company's founder says they want to make a statement that goes beyond getting people from "A to B." 381