Klarinet Archive - Posting 000138.txt from 2006/11

From: Glenn Kantor <klarinet@-----.net>
Subj: Re: [kl] WWBW Bankruptcy
Date: Wed, 29 Nov 2006 23:20:27 -0500

Bill is correct...

On Monday, I had a phone conversation with Dennis Bamber (President and
owner of WW/BW) -

He told me that a few months ago WW/BW lost a court judgment bought about by
a lawsuit from the minority shareholders of Music 123.

Thus, he was forced to file a Chapter 363, to secure the assets of the
company.

Although Guitar Center currently has the highest bid, other companies can
match or out bid them.

The company, after January will be in the hands of new owners, although
Dennis said it will remain in South Bend (he owns the property) Since there
is currently an offer to buy the company, bank financing for new inventory
is on place and new supplies should be arriving. New orders will continue to
be processed.

Dennis encouraged customers to rest assured that all back orders and new
orders will be filled and business for the time being is alive and well.

He gave permission to post the above information...

Glenn Kantor (GBK)

----- Original Message -----
From: "Bill Hausmann" <bhausmann1@-----.net>
To: <klarinet@-----.org>
Sent: Wednesday, November 29, 2006 11:05 PM
Subject: RE: [kl] WWBW Bankruptcy

> At 01:15 AM 11/29/2006 -0500, Rommel John Miller wrote:
>>Could their bankruptcy be some kind of kismet? A type of subtle karma for
>>the nastiness and unethical practices they engaged in, not only with me,
>>but
>>perhaps with others? Why else would one be forced to file for Chapter 11,
>>but to reorganize and salvage what one could from faulty practices under
>>the
>>former guise of the business. And let us not forget that WWBW and
>>Music123
>>are one in the same, and if WWBW has declared chapter 11 isn't safe to
>>safe
>>that Music123 has followed suit?
>
> Most of their recent less helpful practices probably stem from the
> shortage of cash. And the bankruptcy is the result of legal problems that
> developed over WWBW's acquisition of Music 1-2-3 a year or two ago.
>
>
>
> Bill Hausmann
>
> If you have to mic a saxophone, the rest of the band is TOO LOUD!
>
>
>
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