guitar center is both and can't make it, brick and mortar and internet. What about musicianfriend, they are internet only, and they are dropping behringer too? I realize the two are at some point connected, but still, they have the best of both worlds
I recall being pretty impressed with the guys running GC but that was years ago and they have probably changed ownership/management more than once since then.
It looks like they may have drank too deeply from the easy borrowing available before the housing bubble collapse in 2007-8. The original guys are probably long gone, now with GC being run by sharp pencil types.
MF is wholly owned subsidiary of GC so are likely treated as one account for corporate credit lines.
GC looks like a valuable brand/asset... and from all reports was adequately capitalized. This may have been a negotiation over payment terms that blew up, while I do not expect retail to be very strong.
PS: From my experience in manufacturing it is difficult to fund rapid growth internally when operating on slender (manufacturing) profit margins. While Behringer appears to be the strong hand here, somebody has to fund all that growth they are experiencing lately. At a minimum I would not expect them to be very generous about payment terms.