Woodwind & Brasswind

Woodwind & Brasswind is the largest online retailer of band and orchestra instruments in the United States. Formerly based in South Bend, Indiana, United States, Woodwind & Brasswind now serves customers exclusively through their website and call center.

Acquisition

In 2002, Woodwind & Brasswind acquired Zapf’s Music Store Inc, an online-music store based from New Jersey. The store was renamed to Music123.com, with annual sales increasing over the next few years.[1]

Change in Ownership

During 2004, Woodwind & Brasswind terminated Stephan and Richard Zapf. This dismissal caused a two-year legal dispute concerning the terms of the acquisition and employment. The resulting verdict was unfavorable to the company, causing it to default on various loans and payable accounts. On November 21, 2006, Woodwind & Brasswind filed for bankruptcy protection.[2]

On November 28, 2006, Guitar Center offered $37.1M for the purchase of Woodwind & Brasswind.[3] A few weeks later on December 6, Steinway Musical Instruments offered $40.1M for acquisition, but subsequently announced on its Investor Relations page on January 16, 2007 its intention to terminate its asset purchase agreement with Dennis Bamber Inc. d/b/a/ Woodwind and Brasswind.[4] Guitar Center purchased the assets of Dennis Bamber, Inc., D/B/A The Woodwind & The Brasswind in an agreement dated January 30, 2007.[5]

  • Arion Award, a national award for outstanding achievement in scholastic standing, contributions to one's musical organization, and demonstration of personal and professional performing ability and musicianship.

Store closure

In 2011, Woodwind & Brasswind decided to close its retail store and warehouse, and transfer its call center employees to Indianapolis by the end of the year.[6]

References
  1. Woodwind files for bankruptcy - Ed Ronco, South Bend Tribune (November 24, 2006)
  2. WW&BW in Chap. 11; Creditors Announced - Music Inc magazine (November 27, 2006)
  3. Guitar Center unit bids $37.1M for Woodwind & Brasswind - Daily Camera / Associated Press (November 28, 2006)
  4. Steinway Musical Instruments Investor Relations Page
  5. "USSEC Form 8-K for Guitar Center, Inc". 30 January 2007.
  6. "South Bend's Woodwind & Brasswind Closing its Doors". WSBT-TV. 2011-08-17. Retrieved 2011-08-18.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.