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Old 02-21-18, 11:46 AM   #1
Brotherbear
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Default Gibson Bankrupt

I heard the after 116 years Gibson Guitar factory is going bankrupt .
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Old 02-21-18, 12:20 PM   #2
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Yep, might happen.

https://www.cnbc.com/2018/02/19/guit...ankruptcy.html

Another thing to blame on the Millennials. Just like Harley Davidson, Gibson's core market is on a fast track to the assisted living facility. At the same time, young folks are not buying motorcycles or rock and roll guitars!

PS: I just picked up a shiny new Sunset Burst ES-339 to add to my little Gibson collection, so I am good!
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Old 02-21-18, 01:53 PM   #3
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Lots of reasons for this, but I expect it's mostly internal along with an increase in competition. Personally, I have a Taylor Acoustic and a Fender, but I'd rather not buy a Gibson if I could pay off my student loans. Another factor might be the shift in popular music in my generation, less guitars, more vocals or electronic manipulations. Yeah, a Gibson would sound cleaner, but if you're producing music and not solely a guitar player, why spend that much money when you can import any instrument along with effects through technology?
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Old 02-21-18, 02:11 PM   #4
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Quote:
Originally Posted by Sighter View Post
why spend that much money when you can import any instrument along with effects through technology?
Because doing this with a Mac Book Pro would just look silly!

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Old 02-21-18, 02:18 PM   #5
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Quote:
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Because doing this with a Mac Book Pro would just look silly!

Well, I can't disagree with that
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Old 02-21-18, 04:26 PM   #6
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Default Lots of "Whys?"

There are a lot of "why this and why now" going on and as the revered Buck said, blame those pesky young whipper snappers! But yes, music is changing and more instrumentation is going digital. Just look at any performers active and the number of them playing an instrument and singing at the same time are scarce. Another consideration are the many cuts in school budgets which usually target art and music on the first pass. Fewer music programs means less opportunity for a student to get musical training in our public schools.
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Old 02-21-18, 07:04 PM   #7
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If you will step into the wayback machine and set it 2011; you will see Gibson was raid by the feds for allegedly using illegally imported wood. Cost in excess of $2M, that was just the lawyer's bill; a few hundred thousands in settlements and being shutdown for an extended period. You have to sell a lot of strings and picks to recoup a loss like that.
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Old 02-21-18, 08:03 PM   #8
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Factory wiped out in the Nashville flood probably did not help either.
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Old 02-22-18, 10:07 AM   #9
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Quote:
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Factory wiped out in the Nashville flood probably did not help either.
At least part of that was probably covered by insurance. The only recover on the legal expense is probably an income tax write off. Hopefully, they will reorganize their debts and come out of the bankruptcy stronger than ever.
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Old 02-22-18, 11:28 AM   #10
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Maybe Joe Bonamassa will just buy them out now.
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