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Thread: Oh Noes...Gibson declares Bankruptcy

  1. #1
    Join Date
    Jun 2007
    Location
    San Francisco Bay Area
    Posts
    2,880

    Default Oh Noes...Gibson declares Bankruptcy

    Yup, venerable Gibson, maker of iconic guitars like the Les Paul since 1895 has filed for Chapter 11 bankruptcy protection. It intends to reorganize and hopefully emerge from what may be as much as 500 million in debt. Problem apparently is that Gibson got into consumer electronics and other things not in their sweet spot of making guitars and are getting smoked by Amazon etc.. They also said a lot of kids want to be 'guitar heroes' - the game without actually buying a real guitar. That and low cost imports from Asia etc etc is giving them a run for their money:

    http://money.cnn.com/2018/05/01/news...tcy/index.html

    I hope they don't go away, what would the instrument market look like with no Gibson. Yeah...I've got some beefs with them also, they took no action when I complained (and sent back to factory) a defective finish on a J 45 Deluxe acoustic I bought brand new. Still don't want them to go away.

  2. #2
    Join Date
    Dec 2001
    Location
    QC, Canada
    Posts
    6,329

    Default

    They won't go away... they might go under, sell to come back as a brand. I mean a few others did.
    My only concern when such company with a "brand" sell is that they get sold oversea or to another country's... we see too many of that around here getting sold to others like that.

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