Gibson Guitar Brands Files For Bankruptcy
By Cody Briana on May 1, 2018
Wait, what? Gibson Brands Inc. filed for bankruptcy protection this morning as the company has struggled with its debt load after a series of acquisitions, Bloomberg reports. The guitar company, which filed for chapter 11 in U.S. Bankruptcy Court in Delaware, said it will continue to operate during the proceedings as it focuses on reorganizing around its core businesses. Gibson plans to wind down its Gibson’s Innovations business, which is largely outside of the U.S. I hope this doesn’t mean Gibson guitars are going away!