Woodwind & Brasswind
Woodwind & Brasswind is a company that specializes in musical instruments, based in South Bend, Indiana, United States.
Woodwind & Brasswind hosts an annual Battle of the Bands concert as a competition among bands.
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[edit] 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]
[edit] Change in Ownership
During 2004, Woodwind & Brasswind terminated Stephan and Richard Zapf. This termination caused a two-year legal dispute concerning the terms of the acquisition and employment.
On November 21, 2006, Woodwind & Brasswind filed for bankruptcy protection, as the unfavorable verdict caused the company to default on various loans and payable accounts. [2] The bankruptcy was caused by the verdict of an ongoing legal battle with the previous owners of Zapf’s Music Store initiated by their dismissal.
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.
On January 16, 2007, Steinway announced on its Investor Relations page[4] its intention to terminate its asset purchase agreement with Dennis Bamber Inc. d/b/a/ Woodwind and Brasswind.
[edit] 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.[5]
[edit] References
- ^ Woodwind files for bankruptcy - Ed Ronco, South Bend Tribune (November 24, 2006)
- ^ WW&BW in Chap. 11; Creditors Announced - Music Inc magazine (November 27, 2006)
- ^ Guitar Center unit bids $37.1M for Woodwind & Brasswind - Daily Camera / Associated Press (November 28, 2006)
- ^ Steinway Musical Instruments Investor Relations Page
- ^ "South Bend's Woodwind & Brasswind Closing its Doors". WSBT-TV. 2011-08-17. http://www.wsbt.com/news/wsbt-south-bends-woodwind-brasswind-closing-its-doors-20110817,0,1230083.story. Retrieved 2011-08-18.
[edit] External links
- Woodwind & Brasswind official homepage
- Woodwind & Brasswind gets rival bid - Boston Globe (December 6, 2006)
- Another Suitor for Woodwind & Brasswind - WSBT South Bend (Accessed December 13, 2006)
- Woodwind & Brasswind Enters Bankruptcy; Guitar Center Bids to Acquire Most Assets - MMR (Accessed December 13, 2006)
