Ares Management
“Guitar Center, Neiman Marcus, 99 Cents Only Stores. If a brand is circling the drain, Ares is probably holding the bucket.”
Ares Management currently owns 1 consumer brand we track, including Guitar Center. It has since exited 2 more.
Based in LA with over $670 billion under its control, Ares has a knack for acquiring consumer brands at their most vulnerable. They bought 99 Cents Only Stores for $1.6 billion; every single one of the 371 locations was liquidated by 2024, with more than 10,800 workers out of a job. Ares took control of Guitar Center in 2014 by swapping debt for ownership — the chain went bankrupt in 2020 anyway, on their watch. Neiman Marcus, another Ares investment, filed for bankruptcy the same year.
Founded 1997 · Los Angeles, CA