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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

While the second Monday in October is traditionally when Columbus Day is observed, many communities have opted to celebrate Indigenous Peoples’ Day instead.Columbus Day became a federal holiday in 1937. For many, the holiday is a way of honoring the achievements of Christopher Columbus and celebrating Italian-American heritage, according the History Channel.However, the explorer and his holiday have generated controversy. Although Columbus was the first European to explore the Americas since the Vikings established colonies in the 10th century, the History Channel says he viewed the native people as obstacles.Columbus is accused of labeling the indigenous people as “Indians.” Other points of controversy revolve around the use of violence and slavery, the forced conversion of native people to Christianity, and the introduction of deadly diseases.As a result of these points, Native Americans and other groups have protested the celebration of Columbus Day, viewing it as a celebration of the colonization of America, the beginning of the slave trade, and the deaths of natives from murder and disease.In the past few years, there’s been a movement to replace Columbus Day with Indigenous Peoples’ Day, which honors Native American histories and cultures. Several states now celebrate or observe that holiday instead of or in conjunction with Columbus Day.A total of 14 states, Washington D.C. and more than 130 cities observe Indigenous Peoples’ Day, USA Today reports. Those states are Alabama, Alaska, Hawaii, Idaho, Maine, Michigan, Minnesota, New Mexico, North Carolina, Oklahoma, Oregon, South Dakota, Vermont and Wisconsin. 1648

White House press secretary Sarah Sanders privately berated the White House communications and press staff Friday after a leak the previous day of comments by aide Kelly Sadler about Sen. John McCain, according to several sources familiar with the meeting.In discussing McCain's opposition to CIA nominee Gina Haspel, Sadler,?a special assistant who handles surrogate communications for the White House, said in a private meeting Thursday that it doesn't matter "because he's dying anyway." It was a joke that fell flat, a White House official told CNN. 571

Willie Nelson's 35th annual benefit concert Farm Aid is going virtual this year.Musicians John Mellencamp, Neil Young, Dave Matthews, and others will come together on Sept. 26 at 8 p.m. ET to help raise money for farmers who face challenges amid the coronavirus pandemic.“This pandemic and so many other challenges have revealed how essential family farmers and ranchers are to the future of our planet,” said Farm Aid President and founder Willie Nelson in a press release. “Farm Aid 2020 is going to give the whole country a chance to learn about the important work of farmers and how they’re contributing to our well-being, beyond bringing us good food.”The three-hour event will be live-streamed on Farm Aid’s YouTube channel, AXS TV, and Fans.com.You can find the full line-up here. 796

Will Smith will be back sitting on his throne as the Prince of Bel-Air when HBO Max streams the "Fresh Prince of Bel-Air" cast-reunion special on Thursday, Nov. 19.The trailer shows the former castmembers reminiscing about their time on the hit 1990s NBC comedy series at their time and the cultural impact it has had.There was also a tribute to the late actor James Avery, who played Uncle Phil, who died in 2014 due to open-heart surgery complications. 462

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