In the late 1970s,[4] Ray Scherr, the General Manager of the San Francisco store, purchased the company from Wayne Mitchell.

The following year, with 30 stores on the West Coast and in Michigan, Ohio, and Florida, Guitar Center made an initial public offering of stock and opened more new locations.

[6][7] In 2000, Guitar Center acquired mail order and e-commerce retailer Musician's Friend[8] for $50 million, and claimed the merged company was the world's largest seller of musical instruments.

In May 2013, Standard & Poor's cut its debt rating on Bain Capital-owned Guitar Center Holdings Inc. to "junk bond" status, citing struggles with "weak operating trends."

According to Mike Pratt, the retailer's previous chief executive, the deal would reduce Guitar Center's total debt and provide it with the resources to expand and invest in its business.

[18] The Guitar Center Times Square location became the permanent home of Eric Clapton's Blackie Fender Stratocaster,[19] which had been purchased at a Christie's Crossroads Centre auction in 2004 for $959,000.

On November 13, 2020, during the COVID-19 pandemic, Guitar Center announced that it planned to file for Chapter 11 bankruptcy protection after negotiating a debt-cutting deal with key investors and lenders.

The winners from each of these five semifinal competitions qualified to compete in front of a live audience and a panel of celebrity judges at Guitar Center's Drum-Off finals in Los Angeles, California.

In the finals, each contestant was required to perform on a 5-piece acoustic drum kit complete with hardware, cymbals, cowbell, throne and the option to incorporate a Roland SPD-30 Octapad (the SPD-30 was not included in 2016).

Contestants were evaluated by a panel of independent and credible judges on the following criteria: skills & technique, groove, originality, stage presence, and overall performance.

[citation needed] The Sunset Boulevard location in Los Angeles hosts Hollywood's RockWalk, a hall of fame, honoring musical artists.

[33] The inaugural inductees were music gear pioneers Jim Marshall, Robert Moog, Les Paul, and musicians Eddie Van Halen and Stevie Wonder.

[32] Other inductees include Elvis Presley, Chuck Berry, Bo Diddly, Carole King, Alice Cooper, Holland-Dozier-Holland, Herbie Hancock, the Black Crowes, The Ramones, Dick Clark, Willie Dixon, Buddy Guy, KISS, John Lee Hooker, Smokey Robinson, Solomon Burke, John "Jabo" Starks, Robert Cray, Etta James, Ike Turner, Kim Se-hwang, Muddy Waters, B'z, Eric Clapton, AC/DC, Aerosmith, Alanis Morissette, B.B.

King, Black Sabbath, Carlos Santana, Cheap Trick, Def Leppard, Ernie Ball, Grandmaster Flash, Iron Maiden, James Brown, Jerry Lee Lewis, Jimi Hendrix, Jimmy Page, Joan Baez, Joe Satriani, Bonnie Raitt, Kenny Loggins, Johnny Cash, Layne Staley, Little Richard, Lynyrd Skynyrd, Melissa Etheridge, Nancy Wilson, Queen, Roky Erickson, Clyde Stubblefield, Slash, The Doobie Brothers, The Wrecking Crew, Van Halen, Vince Gill, Simon Kirke, Lizzo, Nick Cave, Thin Lizzy, Judas Priest, Oasis, Mud, Korn, In Flames, Jakob Dylan, BTS, Yola, Gary Clark Jr. and Chick Corea.

Past guests include Linkin Park, Saint Motel, Wiz Khalifa, Billy Idol, The 1975, Sum 41, Weezer, Smashing Pumpkins, Peter Gabriel, Alanis Morissette, 311, Megadeth, Snoop Dogg, Soundgarden, Seether, The Cult, Cake, Jakob Dylan, Tame Impala, Rodrigo y Gabriela, Bush, Ben Folds Five, Korn, Joan Jett, Cheap Trick, Skylar Grey, Peter Frampton, Frank Turner, J Balvin, Coheed and Cambria, Debbie Harry, Kraftwerk and Jane's Addiction.