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Gibson, Iconic Guitar Company,
Said to Be Nearing Bankruptcy

Variety, by Jem Aswad

Original Article

Posted By:zoidberg, 2/20/2018 9:53:50 AM

Gibson Brands Inc., one of the two most iconic guitar companies in music history, is facing bankruptcy after years of challenges, according to a report in the Nashville Pos tand other sources. The Post reports that the company, which has annual revenues of more than $1 billion, is less than six months away from $375 million of senior secured notes reaching maturity; another $145 million in bank loans will be due immediately if those notes, issued in 2013, are not refinanced by July 23. The company’s chief financial officer, Bill Lawrence, recently departed after just six month in the role

      


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Reply 1 - Posted by: provide, 2/20/2018 10:00:59 AM     (No. 11549519)

Obama´s thugs seized their legal rosewood used for fingerboards for 2 or 3 years. Taylor donated money to the Democrats and were left alone. Millenials LOVE Fender. Every bass guitar I´ve seen on stage was a Fender. I play bass and have used Gibson since 1968. It´s a better performing instument.

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Reply 2 - Posted by: h24015, 2/20/2018 10:02:16 AM     (No. 11549520)

The prior administration´s attempts to punish a company with a conservative leaning didn´t help matters. It was OK for Martin (big liberal donors) to use Brazilian hardwood.

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.New_S.
  


 
Reply 3 - Posted by: meidei, 2/20/2018 10:19:06 AM     (No. 11549536)

The Department of Injustice by special order of The Won - shameful.

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Reply 4 - Posted by: lindamay, 2/20/2018 10:30:12 AM     (No. 11549554)

POS Obama

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Reply 5 - Posted by: Nashman, 2/20/2018 11:11:10 AM     (No. 11549617)

This makes me incredibly sad. My Gibsons are some of my favorite guitars. Still need to get an ES335. Now may be the time. I really hate our last illegitimate president.

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Reply 6 - Posted by: Caveman, 2/20/2018 11:26:44 AM     (No. 11549640)

The numbers here are staggering. $1 Billion a year in revenue and you still can´t pay the bills? Is this company run by the Government?

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Reply 7 - Posted by: dvc, 2/20/2018 12:03:36 PM     (No. 11549685)

Modern "artists" scratch a needle across a record as their "instrument", don´t need no guitar.

Didn´t Obama screw them over by confisgating a huge amount of extremely valuable wood, without good reason? This was a huge financial ripoff by the government, IIRC.

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R-TA-Wide_2
  


 
Reply 8 - Posted by: ishouldknowbetter, 2/20/2018 12:25:31 PM     (No. 11549717)

I always liked the sound of Gibsons, but hated playing them. Fender has always been my choice until they started price gouging, though not to the extreme Gibson did. Gibson cut their own throat.
I started building my own guitars from various parts from different vendors and ended up with some very nice playing guitars. Unfortunately arthritis has ended my playing days. I have 9 guitars I can no longer play and haven´t been able to bring myself to part with.

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Reply 9 - Posted by: NorthernDog, 2/20/2018 12:30:53 PM     (No. 11549727)

It sounds like their vintage equipment is more popular than the new stuff. Unfortunately they are getting squeezed out of today´s marketplace.

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Reply 10 - Posted by: Patchy Groundfog, 2/20/2018 12:48:58 PM     (No. 11549749)

They´ve been in bad shape for a while but this set of bad numbers has been circulating among the non-musical press in typical me-too fashion.

Like Fender, they´ve bought numerous other musical brands that, in hindsight, may have not been good investments.

I´m also a satisfied Gibson owner and it´s obvious that whatever happens to the company they will sell the family silver of intellectual property, patents, etc. if the worst comes to the worst ie Gibson models and heritage will not die along with the business entity.

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Reply 11 - Posted by: Nevadadad46, 2/20/2018 2:00:53 PM     (No. 11549819)

The article ends with a kind of Death Certificate for Rock and Roll. And I agree.

We go to the casinos here a lot- (eats and entertainment are great). You hear the house music and it is almost universally pre 1992 stuff.Sometimes they play more modern stuff- And you see people not keeping beat, not smiling, not spontaneously dancing to it. But, the Pre-´92 and particularly the 50´s to 70´s rock the people are out there having a great time. You absolutely Never hear this crap they call "Rap"- ever. And many of the more lyrical- oddity black vocalists are universally not popular. Country is still on, though- Some awesome stuff- But the broadest appeal are the classical rock and roll from the Golden era.

Basically, it can truthfully be said, music started dying about 1995. I think the internet killed it due to copyright pirating. The money is just not there anymore for the really good stuff. If no one is whistling your tune, it will not be remembered or make money. The biggest events here are the old rockers still cranking out the Great stuff and sadly, they are dropping one by one.

g´bye, Gibson- you guys were fantastic.

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Reply 12 - Posted by: schnapps, 2/20/2018 2:55:15 PM     (No. 11549880)

There are many Chinese knock-offs of the classic Gibsons, especially the Les Paul, out there. Real guitarists want the real thing but a lot of others don´t care.

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.LockDme.


 
Reply 13 - Posted by: doctorfixit, 2/20/2018 4:11:31 PM     (No. 11549947)

Quality is not cheap. Gibsons have always been higher quality. Many factors - the death of rock, emergence of rap/hip hop, millenials not caring to learn guitar, fading of guitar-based music, and fading popularity of the "fat" sound of the Gibson humbucker pickups. Obama kicked Gibson when they were already down because Gibson´s owner was not in thrall to Mr. Nothingburger from Nowhere so Obama turned his thug Eric Holder on the company. Obama and Holder should be in jail for this alone.

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Reply 14 - Posted by: ColonialAmerican1623, 2/21/2018 1:09:08 AM     (No. 11550376)

Maybe now is the time for Nashville to step up and keep them in business.

We will be stuck with the Won´s tricks for decades.

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