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View Full Version : Gibson files for bankruptcy protection!



river_driver
05-01-2018, 06:47 AM
Shocked to see this today:
https://www.npr.org/sections/therecord/2018/05/01/607373593/gibson-guitars-files-for-bankruptcy-protection

andy2353
05-01-2018, 07:12 AM
Another company weighed down by debt from leveraged buyouts, just like Toys R Us, too bad

merlin666
05-01-2018, 07:18 AM
They stopped building ukuleles, so it's no surprise they are struggling now.

EDW
05-01-2018, 07:39 AM
Does that mean my vintage Gibson ukes will be even more valuable?

Ukecaster
05-01-2018, 08:18 AM
Oh no! No more new Gibson ukes! Oh...I’m only off by a half century or so ;)

EDW
05-01-2018, 08:32 AM
Oh no! No more new Gibson ukes! Oh...I’m only off by a half century or so ;)

You don't know what you are missing!

Uke Don
05-01-2018, 08:48 AM
Henry Juszkiewicz, Chairman and CEO of Gibson, has run that company into the ground. Lots of questionable decisions about what instruments to produce and how to produce them (i.e., cheaply). If he gets tossed in the reorganization it will be a blessing.

Booli
05-01-2018, 08:54 AM
That really sux. This is very sad news.

Maybe Epiphone should try to buy them out, after all they have licensed many of the designs of their guitars from Gibson, and it would be like Epiphone the 'junior party', reversing and becoming the 'senior party'....

Lots of the other companies they own referenced in that article manufacture equipment for DJ and PA use, and that has little to do with manufacturing guitars.(I used to work as a DJ and am familiar with those companies and their products)

It seems they diversified too much and lost focus while over-extending themselves.

hoosierhiver
05-01-2018, 08:54 AM
At least we still have Givson. http://givson.com/

EDW
05-01-2018, 09:56 AM
It seems they diversified too much and lost focus while over-extending themselves.

That often seems to be the case. For some businesses, rather than working to make a great product, it becomes about growing, cutting costs and increasing profits, until it all becomes a pale shadow of the former company.

Uke Don
05-01-2018, 12:04 PM
Maybe Epiphone should try to buy them out, after all they have licensed many of the designs of their guitars from Gibson, and it would be like Epiphone the 'junior party', reversing and becoming the 'senior party'....


Gibson and Epiphone have been owned by the same parent company since 1957, so no help there. Gibson et al. got bought by the current owners in 1986 after a previous period of gross mismanagement. It's been a rough road for the company for much of its history.

DownUpDave
05-02-2018, 06:15 AM
Most people over on Acoustic Guitar Forum that are in the know figure the guitar building end of the buisness will survive. All the other companies and divisons will be sold off. They will restructure and hopefully just concentrate on building guitars which is still a profitable business for them.

Jim Hanks
05-02-2018, 04:01 PM
At least we still have Givson.
Seriously? :wtf:

CeeJay
05-02-2018, 09:09 PM
At least we still have Givson. http://givson.com/

Chibson,Givson, Tomato,Tomayto. :rofl:

RichM
05-03-2018, 02:45 AM
Bankruptcy doesn't mean the end of Gibson; many of your favorite brands have been through bankruptcy at one point or another and come out good on the other side. And given the amount of mismanagement within Gibson, they may actually be a better company when they come out the other side. This won't be the first time Gibson has flirted with disaster, and probably won't be the last.