The legendary manufacturer of guitars, Gibson’s fight against bankruptcy

Based in Nashville, Tennessee, in the south), the company mythic has been coming since Monday, a new chief financial officer, Benson Woo, to try to save the group, which is beset by debts.

Gibson Brands, which also markets audio systems for the general public and for professionals, working “currently” with a business bank to establish a plan of debt refinancing, ” says the company in a press release.

According to the Nashville Post, the group must pay us $ 375 million in early August due to the maturity of bonds.

“Even if the segments +musical instruments+ and +professional audio+ are profitable and growing, they are still under the levels seen a few years ago”, explained in the press release the CEO Henry Juszkiewicz, who tries at the same time to revive the group through a complete review of the budget and the strategy.

Gibson continues to refocus “his brand consumer audio Philips on products that have the biggest growth potential,” while “eliminating the segments that are not to the height (of) expectations”, is also explained.

The group “hopes that this strategy will lead to the best financial results in its history during the coming year, and (he) will repay its debts in full in the coming years”, is it written yet.

The branch entertainment Philips for $ 135 million

Gibson has bought in 2014 as the branch entertainment of the Dutch Philips for $ 135 million.

The group, which has one of the most famous models is the guitar Les Paul, was founded in 1894 and is now based in Nashville, one of the top music venues in the United States (rock, blues, country…).

Among the stars whose fingers ran on the strings of the Gibson: the bluesman, B. B. King, Keith Richards (Rolling Stones), Jimmy Page (Led Zeppelin) and many others…

In 2016, a Gibson Dove offered to Elvis Presley by his father in 1969 has reached 334.000 dollars at an auction.

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