Guitar-maker Gibson Brands files for bankruptcy

[George R. Lane]

The Les Paul's will live on and the mandolins will probably fade away.

[colorado_al]

The Les Paul's will live on and the mandolins will probably fade away.

I bet that Two Old Hippies is already in negotiations for the name

[Ivan Kelsall]

From colorado _al - "I bet that Two Old Hippies is already in negotiations for the name." I hope that Bruce Weber beats 'em to it !!. I could see a possible colaboration between Bruce Weber & Dave Harvey, in building ''Gibson'' mandolins of awesome quality !. After all,they've both done it before,
Ivan

[HoGo]

I bet that Two Old Hippies is already in negotiations for the name

I'd bet that result would be just (ex)Weber mandolins with Gibson name stuck to headstock... Similar to the Flatiron/Gibson split personality. Same products from same line with different name tags and prices...
But I don't see that happening. IF the buying company started making inferior mandolins with the Gibson name in the future (like outsourcing from china) the word could spread onto the guitar products as well... Gibson could still make the few mandolins in their custom shop - they already have CNC operations set up.
But I can see the Flatiron brand being dropped completely and/or sold.

[zeemumbai]

The US has a debtor friendly bankruptcy code for viable companies with too much debt. Gibson will be reorganized with a new capital structure when it emerges from Chapter 11 Bankruptcy protection. The senior secured debtors will end up as the new owners of the company while the old equity holders and the subordinated bond holders will be wiped out.

[Mandolin Cafe]

Google News is full of brand new articles published in the past few hours in regard to some legal action that took place late yesterday. A couple:

Gibson Guitar Fans at KKR Lead Rock Music Icon Out of Bankruptcy
https://www.bloomberg.com/news/artic...-of-bankruptcy

It’s Over: Gibson Guitar Is Officially Exiting Chapter 11 Bankruptcy
https://www.digitalmusicnews.com/201...nkruptcy-exit/

[Mando Mafia]

Google News is full of brand new articles published in the past few hours in regard to some legal action that took place late yesterday. A couple:

Gibson Guitar Fans at KKR Lead Rock Music Icon Out of Bankruptcy
https://www.bloomberg.com/news/artic...-of-bankruptcy

It’s Over: Gibson Guitar Is Officially Exiting Chapter 11 Bankruptcy
https://www.digitalmusicnews.com/201...nkruptcy-exit/

If KKR are involved, despite what they say, you can say goodbye to Gibson. Here’s what they did to Toys R Us :
https://theweek.com/articles/761124/...sts-ate-toys-r

[MikeEdgerton]

Toys R Us was in trouble for decades, in bigger numbers than Gibson could hope for. They were destined to falter before KKR ever got there. Not a good example.

[Seter]

I dare say it is more likely for the KKR executives to have fonder feelings towards Gibson products than Toys R Us, although Toys R Us did sell some pretty cool LEGO sets. Also Gibson is a manufacturer and Toys R Us is a retailer. Guitar Center and Toys R Us would be a better comparison.

[Jeff Mando]

GM as an example of a bailout and Chapter 11...........people are still driving new Chevys, Buicks and Cadillacs......

I predict Gibson name will still be on instruments for years to come.....

Like they say in Washington, a little "hiccup"............

But, as stated, a shame some jobs are bound to be lost in the process.

[Luna Pick]

GM as an example of a bailout and Chapter 11...........people are still driving new Chevys, Buicks and Cadillacs......

I predict Gibson name will still be on instruments for years to come.....

Like they say in Washington, a little "hiccup"............

But, as stated, a shame some jobs are bound to be lost in the process.

True, although that was government backed, big time politics involved too. Name will probably endure, not as likely the product depth and capacity.

[allenhopkins]

...I predict Gibson name will still be on instruments for years to come...

Don't disagree, but the question's "who will be making those instruments, and own the 'Gibson' nameplate?"

I see lots of Washburns around, and Regals, Epiphones, Oscar Schmidts, etc., but they're made in Asia and have nothing to do with the originators of those brands.

[DHopkins]

Don't disagree, but the question's "who will be making those instruments, and own the 'Gibson' nameplate?"

I see lots of Washburns around, and Regals, Epiphones, Oscar Schmidts, etc., but they're made in Asia and have nothing to do with the originators of those brands.

And those brand names are not necessarily bad, irrespective of the location of manufacture or the lack of an American history.

[allenhopkins]

And those brand names are not necessarily bad, irrespective of the location of manufacture or the lack of an American history.

Not "necessarily bad," but I find them a bit misleading -- e.g. the qualitative difference between US-made Flatiron mandolins, and the recent ones made in Asia. If you're going to manufacture a new line of instruments in China, what's the purpose of giving it the same name as instruments made decades ago in America? Isn't it to imply that there's some relationship -- similar designs, equivalent quality, "carrying on a tradition" when in fact you're not?

If the current Gibson company gets totally reorganized, and its US manufacture of some models gets shut down (hasn't this already happened, in effect, with Gibson banjos and Dobro resonator guitars -- now made from parts manufactured by others?), there's nothing to stop the new owners of the Gibson name, from attaching it to lines of instruments manufactured anywhere in the world. Will they be "just as good?" Is a Fender Squier Telecaster "just as good" as one made here? Or not? And at least the "Squier" tips you off as to "country of origin."

You could say it's nice to have Epiphone instruments available, even if they've little or nothing to do with the company the Stathopoulos family started, and later sold to Gibson. Are there any American-made Gretsch instruments now? What percentage of Guild guitars are domestic, and what percent imported?

I guess I just think that sticking historic American labels on unrelated imports is a bit dodgy. If this happens with the "Gibson" nameplate, it won't be a great day for US musical instrument manufacture, IMHO.

[DHopkins]

Not "necessarily bad," but I find them a bit misleading -- e.g. the qualitative difference between US-made Flatiron mandolins, and the recent ones made in Asia. If you're going to manufacture a new line of instruments in China, what's the purpose of giving it the same name as instruments made decades ago in America? Isn't it to imply that there's some relationship -- similar designs, equivalent quality, "carrying on a tradition" when in fact you're not?

......

I guess I just think that sticking historic American labels on unrelated imports is a bit dodgy. If this happens with the "Gibson" nameplate, it won't be a great day for US musical instrument manufacture, IMHO.

I'm playing devil's advocate here:

Think RCA, Magnavox, Motorola, Dell, etc. Have you gotten used to that yet? Even Walmart backed off from their stand toward foreign-made products (although I'm sure ole Sam Walton twitched a little in his grave). It seems to be "the American way," now.

[allenhopkins]

...Have you gotten used to that yet?...

No.

If it's just a question of taking American designs, and manufacturing the products overseas to save production costs, I may not applaud, but I understand the pressures of the global economy. (And the desire of companies in a capitalist market to maximize profit and return to stockholders [and corporate officers].)

If it's a question of manufacturing something that has relatively little relationship to the US-made product -- other than it's also a mandolin, and approximately the same size and shape -- and sticking an available US-historical brand on it, to take advantage of the good name and good will of the now-inactive original American manufacturer, I think it's misleading. Maybe even a bit of a swindle.

What-the-hell have modern Washburn instruments to do with Lyon & Healy's top-end line from a century ago? Nothing that I can see. But peruse the Washburn website, with its evocation of the "storied history of Washburn instruments." Piffle.

Lemme climb down off the soapbox. I won't rejoice when all Gibson instruments are made in Asia, should that happen. Not because I don't buy Asian instruments; I have a good number of Eastmans and Gold Tones. But because I admire and respect the history of the Gibson Company -- present management largely excepted.

[Jeff Mando]

And let's not forget Curtis Mathes, the most expensive television set in America, and darn well worth it! (or so the slogan goes.......) or went!

[Steve Ostrander]

Wow, I knew that robotic tuners were a huge flop, but 4.64 million?

[Jeff Mando]

And let's not forget Curtis Mathes, the most expensive television set in America, and darn well worth it! (or so the slogan goes.......) or went!

Note to (my old) self: Curtis Mathes jokes do not play well with Millenials or Gen Z'ers........

[Chris Mudd]

Here is where I hope the tree with the deepest roots weathers the storm. I would think that a more concise, more focused Gibson would do better. This is also a chance for the instrument buying community to show with your money how much you value an american icon. If you are buying another product, this might also be a time for Gibson to do a little listening to the instrumnt buying community as well.

[Bob Buckingham]

All I know is I bought a beautiful Bozeman made SJ 12 fret, one of 60 for a great price with a toriffied Adi top, hide glue and a great sound. One would hope that the brand could persist but honestly they have not kept up with other brands in quality and innovations in mandolins IMHO. Hopefully they will become a go to brand again.

[DataNick]

All I know is I bought a beautiful Bozeman made SJ 12 fret, one of 60 for a great price with a toriffied Adi top, hide glue and a great sound. One would hope that the brand could persist but honestly they have not kept up with other brands in quality and innovations in mandolins IMHO. Hopefully they will become a go to brand again.

I don't know where you get this from but the quality of Gibson mandolins from the Bozeman era to the current David Harvey era has been attested to as ranging from very good to excellent; and the current crop under David Harvey's stewardship many say are the best since the Loar era! Just how many of each era have you personally played?

Not being argumentative, but your wide sweeping assertion deserves some push back...YMMV

[Jeff Hildreth]

With respect to Gibson and the Loar era instruments... not unlike Shelby Cobras...
The replicas are often better built. But, just as the modern recreations/replicas/ iterations of the Loars, which are in many ways better, they are not Loars. Replicas of the Cobra are not Shelby Cobras.