Woodwind & Brasswind

Woodwind & Brasswind is a store 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.

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. [http://www.southbendtribune.com/apps/pbcs.dll/article?AID=/20061124/News01/61124010 Woodwind files for bankruptcy] - Ed Ronco, South Bend Tribune (November 24, 2006)]

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. [http://www.musicincmag.com/News/061106/061106_wbcreditors.html WW&BW in Chap. 11; Creditors Announced] - Music Inc magazine (November 27, 2006)] 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. [http://www.dailycamera.com/news/2006/nov/28/no-headline-28bgui1/ Guitar Center unit bids $37.1M for Woodwind & Brasswind] - Daily Camera / Associated Press (November 28, 2006)] 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 [http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=lvb&script=410&layout=0&item_id=950495 Steinway Musical Instruments Investor Relations Page] ] its intention to terminate its asset purchase agreement with Dennis Bamber Inc. d/b/a/ Woodwind and Brasswind.

References

External links

* [http://www.wwbw.com/ Woodwind & Brasswind] official homepage
* [http://www.boston.com/business/articles/2006/12/06/woodwind__brasswind_gets_rival_bid/ Woodwind & Brasswind gets rival bid ] - Boston Globe (December 6, 2006)
* [http://www.wsbt.com/news/local/4844816.html Another Suitor for Woodwind & Brasswind] - WSBT South Bend (Accessed December 13, 2006)
* [http://www.mmrmagazine.com/HotNews/ Woodwind & Brasswind Enters Bankruptcy; Guitar Center Bids to Acquire Most Assets] - MMR (Accessed December 13, 2006)