Gibson Brands Files for Pre-Negotiated Chapter 11 Restructuring and Will Refocus on Musical Instruments
The bad news is, Gibson Brands filed for bankruptcy. The good news is that Gibson Brands finally filed for bankruptcy, having reached an agreement to reorganize around its Core Businesses and Iconic Brand to continue to manufacture, supply, and distribute guitars and pro audio products. Gibson Brands will sell its consumer electronics businesses and brands. Also bad, Henry Juszkiewicz is still with Gibson. On another good news, the company has secured $135 million to keep going.