double A said:Yep...saw this news on my phone early this morning. I was surprised when I got to work and the internet still worked.
Bagman67 said:It's not 30% of nothing, nohow. There's tremendous value in the brands Gibson owns and in the machinery and inventory and customer relationships. The losers here will be Gibson's creditors, and probably some workers. The point of Chapter 11 is not to liquidate, it's to allow the company to survive by forcing its creditors to take a partial haircut instead of losing everything. Gibson will continue, but it will not surprise me to see a lot of the brands Gibson bought up either sold off or put out of their low-margin misery. And Henry will probably lose his job, but as others have remarked, he is in no danger of missing a meal over any of this.
Bagman67 said:It's not 30% of nothing, nohow. There's tremendous value in the brands Gibson owns and in the machinery and inventory and customer relationships. The losers here will be Gibson's creditors, and probably some workers. The point of Chapter 11 is not to liquidate, it's to allow the company to survive by forcing its creditors to take a partial haircut instead of losing everything. Gibson will continue, but it will not surprise me to see a lot of the brands Gibson bought up either sold off or put out of their low-margin misery. And Henry will probably lose his job, but as others have remarked, he is in no danger of missing a meal over any of this.
Rick said:http://variety.com/2018/biz/news/gibson-iconic-guitar-company-files-for-chapter-11-bankruptcy-protection-1202793510/
Meh ... basically they had neither affordability or good quality ... did play an SG made in the 70's that was pretty sweet, but anything since say, 1998, never liked ... too expensive and too cheap at the same time, probably played the wrong one but all it takes is one to turn you off to a whole brand.
Still no talk of the only thing that can save Gibson... Henry's head on a platter (so to speak).