Gibson on the verge of bankruptcy?

[LoboLives]

https://www.gearnews.com/talk-gibson-bankruptcy-2018-intensifies/

How is this relative to synths? Gibson own the Oberheim brand name. Could we see someone purchase it from them?

[Paul Dither]

I thought B-word already did so.

Edit: I might confuse this with Music Group having applied for the trademark "OB-Xa" in 2016.

[LoboLives]

I thought B-word already did so.

Edit: I might confuse this with Music Group having applied for the trademark "OB-Xa" in 2016.

Yeah I'm sure Uli would have just called the UBXa the Oberheim OBXa if that were the case.

[DavidDever]

https://www.strata-gee.com/gibson-ceo-turns-pr-stop-crashing-image/

[chysn]

As of yesterday, Gibson is no longer "on the verge of bankruptcy." They filed for Chapter 11 bankruptcy.

For those of you outside the U.S., Chapter 11 is bankruptcy protection that allows a company to reorganize and pay off creditors over time, under direction of a government trustee. So in this case, the intent of the bankruptcy isn't liquidation and discontinuation of Gibson as a functioning company, but to get the company back on its feet over time.

It would be a shame to lose an iconic music brand to the corporate miasma, so I hope things work out for them.

[LoboLives]

As of yesterday, Gibson is no longer "on the verge of bankruptcy." They filed for Chapter 11 bankruptcy.

For those of you outside the U.S., Chapter 11 is bankruptcy protection that allows a company to reorganize and pay off creditors over time, under direction of a government trustee. So in this case, the intent of the bankruptcy isn't liquidation and discontinuation of Gibson as a functioning company, but to get the company back on its feet over time.

It would be a shame to lose an iconic music brand to the corporate miasma, so I hope things work out for them.

And yet....they somehow are keeping the new CEO or whatever who got them into this mess to begin with.

Interesting to note Ren Ferguson, a highly regarded guitar builder, left and went to Guild and ever since then, Gibson's quality has not reflected their asking price. Ren did an interview recently and Gibson actually demanded that youtube video be taken down. That alone shows me that Gibson really isn't a company I want to support.

[DavidDever]

As of yesterday, Gibson is no longer "on the verge of bankruptcy." They filed for Chapter 11 bankruptcy.

For those of you outside the U.S., Chapter 11 is bankruptcy protection that allows a company to reorganize and pay off creditors over time, under direction of a government trustee. So in this case, the intent of the bankruptcy isn't liquidation and discontinuation of Gibson as a functioning company, but to get the company back on its feet over time.

It would be a shame to lose an iconic music brand to the corporate miasma, so I hope things work out for them.

And yet....they somehow are keeping the new CEO or whatever who got them into this mess to begin with.

Interesting to note Ren Ferguson, a highly regarded guitar builder, left and went to Guild and ever since then, Gibson's quality has not reflected their asking price. Ren did an interview recently and Gibson actually demanded that youtube video be taken down. That alone shows me that Gibson really isn't a company I want to support.

The sooner they lose their current upper management, the better.

As an aside, their bankruptcy also affects the hi-fi industry, inasmuch as their acquisitions in that space directly affects the production planning of other manufacturers that utilize their OEM products (AV decoder boards, disc transports, streaming modules, etc.).

[BobTheDog]

And yet....they somehow are keeping the new CEO or whatever who got them into this mess to begin with.
to support.

Having worked for a company that went through chapter 11 (SGI) this seems to be the way it works, the top guys do ok, everyone else gets the push and the creditors get shafted.