Klarinet Archive - Posting 000078.txt from 2006/11

From: Mark Charette <charette@-----.org>
Subj: [kl] Guitar Center to buy The Woodwind & The Brasswind
Date: Wed, 22 Nov 2006 20:11:34 -0500

http://www.bizjournals.com/losangeles/stories/2006/11/20/daily27.html

"Guitar Center Inc. has signed an asset purchase agreement to buy
substantially all of the assets of The Woodwind & The Brasswind through
its bankruptcy, the company said Wednesday.

Under the agreement, which is subject to bankruptcy court approval and
overbid at a bankruptcy auction expected in January 2007, Guitar Center
will buy The Woodwind & The Brasswind's inventory of band and orchestra
and combo instruments, accounts receivable, trade names and certain
other intangible assets. Terms of the transaction were not disclosed.

The Woodwind & The Brasswind filed for bankruptcy protection in Indiana
on Nov. 21, 2006. The proposed asset acquisition was entered into by
Guitar Center's Musician's Friend subsidiary. Only very limited trade
obligations and other pre-petition liabilities of The Woodwind & The
Brasswind are being assumed, Guitar Center said."