Gibson Guitars file for for chapter 11 bankruptsy protection announced the company, it is believed the Gibson company are looking for a turn around plan to try and save this iconic brand name known all around the World for supplying musical equipment but even so the news that Gibson guitars files for bankruptsy is a massive shock to music lovers all over the World.
Gibson has been in decline for some years now, it has been obvious in music stores as the brand got less and less with store owners stating long waiting lists for orders of guitars.
Guitars are an instrument that guitarists want to pick up and play to make a buying choice if the guitars are not on the shelf then sales will fall.
It is hoped that Gibson will emerge from the chapter 11 bankruptsy with capital financing reducing its debt to help the Company succeed in re establishing itself into the market place.
The Gibson Company has filed for a number of motions, pending a courts approval to allow Gibson to operate its business throughout the process and maintain support to business partners including suppliers, vendors and shipping.
Gibson was founded in 1902 by Orville Gibson and has been a top brand of guitar synonymous since the Rock n Roll era of the 1950’s.
The most well known guitars from Gibson were the Gibson Les Paul, SG and Firebird.
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