Gibson files for bankruptcy!

Shoot the shit with other metal folk. Free discussion on any topic that doesn't suit the other forums. Avoid mentioning carpet.
Post Reply
User avatar
Grudge
Metal God
Posts: 10209
Joined: 15 Apr 2009, 10:23

Gibson files for bankruptcy!

Post by Grudge »

Shiiiiiiit

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-based corporation's current properties also include Baldwin Piano, Gibson Pro Audio and Wurlitzer, a company once famous for its organs but whose brand name Gibson now uses only for manufacturing jukeboxes.

As NPR has noted in the past, filing for Chapter 11 protection does not mean that a company is doomed to fail; instead, "it's a way for companies that can't pay their bills to not die."

The petition, filed on Tuesday (May 1), notes that the company currently has up to $500 million in debt, and that it will focus its operations going forward 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.

https://www.npr.org/sections/therecord/ ... protection
User avatar
Grudge
Metal God
Posts: 10209
Joined: 15 Apr 2009, 10:23

Re: Gibson files for bankruptcy!

Post by Grudge »

Word is that they had a poor reputation as a supplier and never cleared their payments on time according to music shop owners.
User avatar
Dr. Gonzo
Metal God
Posts: 5331
Joined: 15 Apr 2009, 09:44
Location: between shite and pee

Re: Gibson files for bankruptcy!

Post by Dr. Gonzo »

I blame 3D printers and illegal download of copyrights.
User avatar
shadowalk
Metal God
Posts: 13432
Joined: 13 Apr 2009, 09:16
Location: Manila, Philippines

Re: Gibson files for bankruptcy!

Post by shadowalk »

The thing is, every decent guitarist (at least from where I'm from) knows that that if you want to buy a decent Les Paul, it's much more worthwhile to go second hand as you could get an old model that is by far superior to the standard models that Gibson makes today.
User avatar
Lavabug
Metal God
Posts: 7659
Joined: 17 Apr 2009, 16:15
Location: An ocean of filth.

Re: Gibson files for bankruptcy!

Post by Lavabug »

Skinfection wrote:Unpopular opinion: les pauls are overrated
User avatar
Grudge
Metal God
Posts: 10209
Joined: 15 Apr 2009, 10:23

Re: Gibson files for bankruptcy!

Post by Grudge »

I love my Les Paul LPJ 2013

Image
User avatar
User
Metal God
Posts: 15370
Joined: 14 Aug 2014, 13:18
Location: Unknown

Re: Gibson files for bankruptcy!

Post by User »

Image
more metal
User avatar
happiness and harmony
Postwhore
Posts: 77185
Joined: 18 Apr 2009, 07:36

Re: Gibson files for bankruptcy!

Post by happiness and harmony »

User wrote:Image
Skinfection wrote:
21 Oct 2020, 20:08
super Jesus people
Post Reply