[lee martell]

One reason for this bankruptcy may be because just like with motorcycles, embraced by Baby Boomers, fewer Millennials are purchasing guitars. Think about the gradual decline of Folk, Rock & Roll or Rhythm & Blues as forms of popular music.
There will always be a place for well performed music and performances, but the average untrained person would find it easier to participate now.

Due to the ease and low or no costs, Rap “music” has become the main moneymaker. Due to computerized forms of music, available at very affordable prices, you don’t really need to learn how to play an instrument in order to compose or perform songs. Many people of today are quite prepared to sacrifice authenticity for the right melody at the right beat and octave, all at the press of a button.

[x]

I guess it got hard to do the whole rock or folk thing seriously.

After 50 or 60 years of rap people will probably get tired of that too.

[KevinB]

There also is a robust market for used guitars. One can buy a mint 90s Gibson guitar for half of what a new one would cost now and the quality will be much better. I have fifteen guitars and have only bought one of them, a Larrivee acoustic, new.

[taterjay]

Not many these days will do what it takes to learn an
instrument.

[llevrok]

One reason for this bankruptcy may be because just like with motorcycles, embraced by Baby Boomers, fewer Millennials are purchasing guitars.

I can't imagine millennials getting a Sears Silvertone and forming a garage band as we did in our day. Yup, they are hipsters. Just not hip.