Gibson bankruptcy??

Just_Guild

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Seeing several articles saying Gibson is on brink of bankruptcy since they have not been able to regina cr their considerable debt.
 

fronobulax

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See http://www.letstalkguild.com/ltg/showthread.php?195482-Getting-worse-for-Gibson

Lots of financial folks making the observation that Gibson has a lot of debt due in the next few days and if they don't restructure it then bankruptcy or liquidation is most likely. That said, Gibson is almost certainly not going to comment unless they have actually restructured or defaulted so at the moment all we really have is speculation.
 

mavuser

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they certainly went out with a bang, with that big trip to vegas haaa

rock and roll all night brah, party every day. (pay the bills later!!)
 

DrumBob

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Nothing will change at Gibson until Henry Jerkowicz sells it to people who care and want to turn around the toxic environment that now exists there, and they can start by getting rid of all the electronic side companies he bought. Then, they can concentrate on retooling Gibson's product line and start making great guitars people can afford and want to play.

Jerkowicz is the problem and the reason why Gibson is failing. He's the most hated man in the MI industry. Just ask all the mom & pop dealers he's terminated and estranged.
 

twocorgis

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Nothing will change at Gibson until Henry Jerkowicz sells it to people who care and want to turn around the toxic environment that now exists there, and they can start by getting rid of all the electronic side companies he bought. Then, they can concentrate on retooling Gibson's product line and start making great guitars people can afford and want to play.

Jerkowicz is the problem and the reason why Gibson is failing. He's the most hated man in the MI industry. Just ask all the mom & pop dealers he's terminated and estranged.

My sentiments exactly. Henry J is a vile, despicable man by most accounts, and a wood poacher as well.
 

mavuser

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pretty sure had NAMM been in Vegas, and CES in California...they would have been at NAMM!

finally they got their priorities straight ha...too little too late though haaaa

pleaeese sell me one last NOS jr/maker for 300,, i cannot fathom the idea of this no longer being an option
 

marcellis

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Seeing several articles saying Gibson is on brink of bankruptcy since they have not been able to regina cr their considerable debt.

A lot of companies right now are having trouble regina cr their debt, cofvefe.
--
I'm scheduled to tour the Memphis factory Thursday. I hope to set up a conference call with Henry J.
Let me know if any of you want to call in.

If not I recommend -- getting 'em @ low prices while you can.

o.jpg
 
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Brad Little

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I find it interesting that CME and apparently Sam Ash are selling new Gibsons at below usual street pricing, but not GC. Must mean that they pay their bills in a timely manner and Gibson is attempting to raise money. I also wonder at the repercussions in the industry if both Gibson and GC continue to have issues, maybe even resulting in both going into bankruptcy. Pretty certain somebody will step in for Gibson, if only for the name, not so sure about GC.
Brad
 

fronobulax

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I find it interesting that CME and apparently Sam Ash are selling new Gibsons at below usual street pricing, but not GC. Must mean that they pay their bills in a timely manner and Gibson is attempting to raise money. I also wonder at the repercussions in the industry if both Gibson and GC continue to have issues, maybe even resulting in both going into bankruptcy. Pretty certain somebody will step in for Gibson, if only for the name, not so sure about GC.
Brad

When the debt tea leaves were looking bad for FMIC it was widely believed that FMIC and GC's finances were so tightly coupled that if one went, the other would almost certainly follow. I haven't seen people claiming that strong a link between Gibson and GC but you never know. I'm sure you have nailed it - the people selling underpriced Gibsons are paying cash up front to do so and getting a "discount" because Gibson needs the cash now. I wouldn't be surprised if sales volume is important to Gibson now as well. I'm sure the debt holders are focused on non-industry specific metrics as they decide what to do about Gibson. My naive sense of the economy says that a manufacturer is harder to replace than a distributor so I can see someone trying to acquire Gibson and run it as a guitar company. If GC is in trouble then I can see real estate and inventory changing hands but I don't see anyone continuing GC as a big box brick and mortar music chain.
 

marcellis

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I find it interesting that CME and apparently Sam Ash are selling new Gibsons at below usual street pricing, but not GC. Must mean that they pay their bills in a timely manner and Gibson is attempting to raise money. I also wonder at the repercussions in the industry if both Gibson and GC continue to have issues, maybe even resulting in both going into bankruptcy. Pretty certain somebody will step in for Gibson, if only for the name, not so sure about GC.
Brad

i bought 2 of those discount Gibsons last year - Les Paul Special dbl cut for me & an SG Special for my son.

Sam Ash & Chicago Music Exchange (Memphis models only), bought these guitars in large numbers from Gibson. They are in sealed factory boxes. They may be advertised as demo or floor models. Most of them are still new in sealed boxes. Both the guitars I bought were new in sealed boxes.

Most of the solid bodies guitars were from the unpopular model years 2013, 2014 or 2015.

2016, 2017 were pretty good years. So if you can find any more of these earlier blow-out price guitars - buy them.


Both my purchases were great. CME still has some nice ES models <$900.
I don’t think 2018 will bring such low prices again. 2013-2015 was a special situation -
the models were unpopular.
 
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Grassdog

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I spent a couple of hours last night perusing the Gibson forums concerning the subject (a couple of hours of my life I'd like to have back that's for sure). I was intrigued at how many fan boys that Henry J still has out there amongst the Gibson faithful. The terms "genius", "entrepreneur", "great businessman" were thrown about to describe him as rebuttals to the company's bonds being downgraded to junk status and bond holders organizing against him. One of them was going on about how "Gibson now does over a billion in sales, so Henry must be doing something right". A couple of them credited him for Bozeman (which may be true, I don't know) but we know Ren couldn't stand him. I will say that some of their members are pretty astute financially, understand the implications of the current situation, and some have seen the writing on the wall for a long time coming. But they get shouted down by the Henry J fan boys. It was a spectacle. I guess I don't really have a dog in this fight so I can sit back and watch it all unfold. It would be good to see Henry get his come-uppance with all the people he's trampled on over the years. I wonder if he'd ever be able to get his picture with Slash again.
 

marcellis

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I spent a couple of hours last night perusing the Gibson forums concerning the subject (a couple of hours of my life I'd like to have back that's for sure). I was intrigued at how many fan boys that Henry J still has out there amongst the Gibson faithful. The terms "genius", "entrepreneur", "great businessman" were thrown about to describe him as rebuttals to the company's bonds being downgraded to junk status and bond holders organizing against him. One of them was going on about how "Gibson now does over a billion in sales, so Henry must be doing something right". A couple of them credited him for Bozeman (which may be true, I don't know) but we know Ren couldn't stand him. I will say that some of their members are pretty astute financially, understand the implications of the current situation, and some have seen the writing on the wall for a long time coming. But they get shouted down by the Henry J fan boys. It was a spectacle. I guess I don't really have a dog in this fight so I can sit back and watch it all unfold. It would be good to see Henry get his come-uppance with all the people he's trampled on over the years. I wonder if he'd ever be able to get his picture with Slash again.

I have no dog in the fight either. I bought two bargain Gibson guitars last year and got another free,
in exchange for a defective NS SF3. The two I paid for cost $479 & $579. I don't see any selling that
low today.

Gibson's guitar business is stable & sustainable from what I read. But the acquisitions of unrelated
companies, Onkyo, Teac, et al, is dragging it down. KrK sells a heck of a lot of monitors. I know that.

We'll see what happens. If you see lower-priced Gibson offerings -- I recommend swooping in and buying. All 3 of mine are excellent.

I'm touring Memphis Factory Thursday (at least I have tickets for it.) I'll see if I can get Henry in a conference call. Let me know if you want to call in.
 

davismanLV

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Marc, you're starting to repeat yourself. I think we know your agenda and what you've purchased and when the tour is. Let us know once it's DONE, okay? :encouragement:
 
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