Are Gibson Facing Bankruptcy?

On Thursday, Gibson issued a statement that said an ongoing streamlining strategy would soon help it record the “best financial results the company has seen in its history within the next year.”

However, a report by the Nashville Post earlier this month suggested that Gibson’s Chief Financial Officer Bill Lawrence recently left the firm just six months before $375 million of senior secured notes were due to mature. He had been working for the company for little over a year before leaving the guitar manufacturer.

Gibson have an incredible number of world renowned musicians under their brand. Jimmy Page, Slash, Billie Joe Armstrong, The Edge, Dave Grohl and many many more. With a company that does turn over $1bn a year, this has come as a bit of a shock.

More as it becomes available…

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