With A Sharper Focus on Krell, a Blurry Picture Emerges

We reported last week that Krell Industries owner Rondi D’Agostino vehemently denied reports we had received from various sources that the company was in bankruptcy or considering bankruptcy. D’Agostino said that things may not be perfect, but it’s business as … Continue reading

Gibson, After Light Pruning, Plans Global Layoffs

Hundreds of Employees Facing Pink Slips Gibson Brands, a major provider of musical instrument and consumer electronics products, is in the midst of a widely reported liquidity crisis. With more than $500 million dollars in notes coming due late this … Continue reading

Gibson Sells One Division & Cuts Staff in Another

The news and events surrounding troubled guitar and consumer electronics company Gibson Brands, Inc. seem to be moving at a rapid pace with almost daily revelations as the company struggles to survive ahead of a massive debt due-date just a … Continue reading

Of Gibson, S&P Says: ‘Default is Imminent’

S&P Global Ratings, part of top credit rating agency Standard and Poor’s, this week lowered their rating of Gibson Brands, Inc. to “CCC-” – down one step from the already low rating of “CCC.” Their outlook on Gibson? “Negative.” A … Continue reading

CEO Says Gibson Will Dump Brands

Financials Show Sales & Profits Continue to Slide Gibson Brands CEO Henry Juszkiewicz continues to profess confidence that the company will be able to successfully refinance their over $500 million debt before a mid-year maturation comes due. Telling the Nashville … Continue reading

Gibson CEO Turns to PR to Stop Crashing Reputation

Company Rehires CFO With Debt Deadline Fast Approaching As the music world media continues to trumpet the news of the potential impending collapse of Gibson Brands, noting large outstanding debts and the exit of the company’s CFO, Gibson CEO Henry … Continue reading

Gibson Makes Coupon Payment; CFO is Out

Debt Holders Increasingly Anticipate Bankruptcy Filing Gibson Brands announced at the end of last week that it had successfully completed a $16.6 million coupon payment to holders of its $375 million 8.875% senior secured notes due 2018. This news, a … Continue reading