Gibson Brand, Inc is reportedly on the brink of bankruptcy. With $375 million of senior secured notes due and $145 million in bank loans due, along with Gibson’s debt-to-income ratio, the company is currently found in the “Non-Investment Grade” territory. Watch the video and leave your comments in the comment section below on what you think Gibson is going to do. I honestly hope Fender Guitars does not buy them out, that would be a disservice to these wonderfully made (albeit overpriced) guitars, in-my-opinion.
Personally, I always had a soft spot for the Les Paul, and the history of Les Paul, himself. I blame kids occupying their time playing video games instead of playing a slab of wood with some strings on it.
Gibson has been heading south for quite some time now, it’s not as if the writing wasn’t already on the wall. Their reputation, and I’m sure their wallet as well, took a big hit with all these frivolous lawsuits they kept filing. Instead of putting the money and energy into the quality of their products I guess they thought the suits would force their competitors out of business pushing everyone back to their brand? And then add to that the epic fail they had with the launch of their 2015 guitar lineup, what a mess. It’s clear that the management teams of late have put an emphasis on the dollar over their product lines. All this and adding the hefty price tag on a product that is falling out of favor with the newer generations, what did they think was going to happen? Cut cut and cut again until you’re squeezing every possible dollar out of a product Running it into the ground to a point where it dies off or you sell the pieces making tons of money. That’s the corporate thinking of today…
The big G is screwed!
Most people who learn guitar,and at some point, want to play for groups of people. They want to be in a band. That goes double for electric guitar players.The junk that is called music today has little to do with music played by the great guitar heroes of the past.The record companies decided to destroy good music and replace it with something that requires neither a guitar player or a singer for that matter.I am so tired of hearing singers doubled and redoubled.The general public will lap up anything they are told they like, including bad so called music.The DJ movement did maybe the most harm to guitar sales.When small dances,civic parties,home coming dances,proms,clubs,the list goes on, decided to get someone playing records rather than a band,that killed a lot of desire for the small town guys who wanted to play in a band.The small time guy is where the sales come from, not from big stars.And lets not forget karaoke clubs they did their share.When the public is satisfied with something short of a band,the club owner is going to be happy to go the cheaper route.I have often wondered where are the new great guitar players going to come from, there is no where for the majority of them to perform,as they are learning.When the world decides some day it wants a band to perform for something,they will look around and there will not been any.As long as the public embraces dj’s and karaoke, guitar sales will continue to decline.Gibson and all guitar co. need to do any and everything to promote live music at all levels,from big time to garage.
gibson and all of us need to turn up our noses at dj’s and demand real live music.Again its simple,its not about the big stars,the little guy buys the guitars and at some point he wants someone to hear him play.When there is nowhere to play because the public has been force fed dj’s and karaoke, guitar sales dry up. Not too many guys want to spend big bucks on a guitar just to sit on their bed and play in their room.
WHAT A SHAME I HAD a 1979 GIBSON SG STUDIO back in the day. NICE AXE REALLY DO NOT KNOW WHAT HAPPENED ! !
@ Greg, ALL too true mate! They should have SHOT the Jap that invented Karaoke, and an open season should be declared on all DJ’S who think they are ‘musicians’!
Significantly lower priced but overall similar quality guitars from dozens of manufacturers are what have killed Gibson. Gibson has basically been making Cadillac guitars but selling them at Mercedes prices. However Ford and Chrysler quality are just as adequate and similar quality to Gibson and low quality Chevrolet quality guitars (Fender Strato casters) basically out sell them all.
I started buying Epiphones instead, I couldn’t afford Gibbys anymore, I actually own one Gibby Studio Worn Cherry LP, it’s a no frills Gibby. However, I really enjoy my Epiphones a lot, especially my DOT ES335 Epiphone and my 58 Korina Epi V Amazing sound and playability.