It is with deep regret that the management of National Guitar Summer Workshop, Inc. d/b/a “National Guitar Workshop” (the “Company” or “National Guitar Workshop”) announces that the Company is ceasing its business operations effective as of today, and that all camp sessions are cancelled. Nation Guitar Workshop will soon file for relief under Chapter 7 of the United States Bankruptcy Code in order to carry out an orderly winding-down and liquidation of its business.
Recent economic conditions have made it impossible for National Guitar Workshop to remain in business. During the past several years, the Company has seen a dramatic decrease in student enrollment, and increased costs of operation. Faced with growing operating losses, National Guitar Workshop management has diligently attempted to save the Company through a merger or other business combination, as well as by securing additional operating capital through borrowing and third party investment. Unfortunately, however, none of these efforts has been successful, and management is left with no alternative but to immediately and permanently discontinue operations.
Upon the filing of a bankruptcy petition, you will receive an official notice from the Bankruptcy Court, which will include the contact information for a U.S. Trustee who will assume responsibility for liquidating the Company’s assets. National Guitar Workshop management asks that you direct any inquiries to the designated U.S. Trustee.