Gibson Facing Bankruptcy

[Californiaman]

Wow,

CNN is reporting Gibson may face bankruptcy. Company is not doing well despite annual revenues of over $1 billion.

 

But there may be good news for the 100 plus year-old-company, as CNN reporter Sam Meredith reported that, "On Thursday, Gibson issued a statement that said an ongoing streamlining strategy would soon help it record the "best financial results the company has seen in its history within the next year."

It also said the firm would have the ability to pay back the company's debt in whole within seven years."

 

So it looks like this story is a mixed bag with a possible silver lining at the end.

 

READ ALL ABOUT IT!!!

[SmokeyGhost]

Damn. I suppose that means my Gibby LP Studio will never sound the same ever again.

[jaxson50]

I think Gibson guitars should be independent from Gibson Innovations;

In addition to guitars, Gibson offers consumer electronics through its subsidiaries Gibson Innovations (Philips brand), TEAC Corporation (Teac and Esoteric brands), Onkyo Corporation (Onkyo and Pioneer brands), Cerwin Vega and Stanton,^[6] as well as professional audio equipment from KRK Systems also pianos from their wholly owned subsidiary Baldwin Piano and music software from Cakewalk.

Is Teac, Pioneer and Onkyo even money makers anymore?

[Lecram]

So I've heard.. maybe a chinees can buy the factory chinees employees much cheaper.. mismanaged and thanks to the fools buying fake Gibson's in China for there one good and distorting the market.. many companies will follow thanks to our one greed.