Guitar-Maker Gibson Files for Bankruptcy

Guitar-Maker Gibson Files for Bankruptcy The Nashville-based guitar-maker filed for bankruptcy on Tuesday and will hand control of the company over to bondholders. The decision to re-focus on our core business, musical instruments... ...combined with the significant support from our noteholders, we believe will assure the company’s long-term stability and financial health. Originally founded in 1894, Gibson Brands Inc.’s filing was a result of maturing debt and unsuccessful acquisitions. Gibson, who employs nearly 900 people to make its instruments, will continue to operate during the bankruptcy proceedings.