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Gibson Guitars Files for Bankruptcy
Posted on 5/1/18 at 3:28 pm
Posted on 5/1/18 at 3:28 pm
Per NPR online.
Sounds like much of the problem is with its overseas consumer electronics businesses.
Sounds like much of the problem is with its overseas consumer electronics businesses.
quote:
The company behind the iconic Gibson guitars — whose instruments have been played by Les Paul, B.B. King and Jimmy Page, among many others — filed for Chapter 11 bankruptcy protection in Delaware. The Nashville, Tenn.-based corporation's current properties also include Baldwin Piano, Gibson Pro Audio and Wurlitzer
The company currently has up to $500 million in debt and will focus its operations on its musical instruments business, "unburdened by the challenges experienced by [the company's] separate, primarily non-U.S., consumer electronics business." That business includes the brands KRK, Cerwin Vega and Stanton, whose lines include studio monitors, headphones and turntables. Gibson also currently holds a majority equity interest in TEAC, a Japanese home audio electronics company.
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Posted on 5/1/18 at 3:28 pm to austintigerdad
Posted on 5/1/18 at 3:32 pm to TH03
They'll be fine once they shed the bad weight and focus on what they do best.
They over-extended themselves.
They over-extended themselves.
Posted on 5/1/18 at 3:33 pm to austintigerdad
quote:
Sounds like much of the problem is with its overseas consumer electronics businesses.
Guitar sells are way down too. Why learn to play a guitar when you can turn some knobs? Fender is in bad shape too as well as Guitar Center.
Posted on 5/1/18 at 3:34 pm to austintigerdad
fricking love my les paul
Posted on 5/1/18 at 3:35 pm to austintigerdad
I've been saying for years that banjos are making a comeback. Guitars are only big in old folks homes nowadays. Sorry gramps.
Posted on 5/1/18 at 3:35 pm to austintigerdad
Two things:
1. Didn’t know pictures of Slash NOT smoking a Marlboro Red existed, and
2. This is sad news. Love me some Gibson gear.
1. Didn’t know pictures of Slash NOT smoking a Marlboro Red existed, and
2. This is sad news. Love me some Gibson gear.
Posted on 5/1/18 at 3:36 pm to austintigerdad
You dont need a guitar to string some rap lyrics together.
Posted on 5/1/18 at 3:38 pm to OysterPoBoy
quote:
I've been saying for years that banjos are making a comeback
So that's what killed the guitar eh? 
Posted on 5/1/18 at 3:42 pm to austintigerdad
Posted on 5/1/18 at 3:55 pm to austintigerdad
The owner is a train wreck apparently.
Posted on 5/1/18 at 4:17 pm to austintigerdad
Dis-chord is sad to hear but in time it's duly noted.
Posted on 5/1/18 at 4:18 pm to younger now
quote:Why is it sad? They're not going to stop making "gear". If anything, this could improve the quality.
2. This is sad news. Love me some Gibson gear.
Posted on 5/1/18 at 4:36 pm to austintigerdad
It's just a reorganization.
Posted on 5/1/18 at 4:37 pm to soccerfüt
quote:don't fret
Dis-chord is sad to hear but in time it's duly noted
Posted on 5/1/18 at 4:39 pm to Havoc
This, not all bankruptcy is the same.
Either way,the Gibson name has a ton of goodwill and will continue to produce instruments as long as people buy them
Either way,the Gibson name has a ton of goodwill and will continue to produce instruments as long as people buy them
Posted on 5/1/18 at 4:42 pm to younger now
quote:
1. Didn’t know pictures of Slash NOT smoking a Marlboro Red existed, and
Slash hasn't smoked since 2009 and hasn't drank since 2005. He has an implanted defibrillator because of the damage his lifestyle did to his heart. It'll pop him on stage every now and then if he gets too excited and it's not quite set right.
Dude's in his 50s. Even guitar gods can't beat Father Time.
This post was edited on 5/1/18 at 4:48 pm
Posted on 5/1/18 at 4:44 pm to OysterPoBoy
Pan flute is where it’s at baby!
Posted on 5/1/18 at 4:48 pm to austintigerdad
Maybe they’ll cut their high end prices in half so I can buy a few more.
Posted on 5/1/18 at 4:49 pm to Kafka
They’ll string it out long enough for business to amp up and get their business plan re-tuned
This post was edited on 5/1/18 at 4:50 pm
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