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

Yet Another Investor Sues Gibson Over Soured Deal

The Plot Thickens in This Sales Triangle Just last week, we learned that real estate investment company Somera Road filed a lawsuit in the Davidson County Chancery Court in Nashville, alleging that Gibson Brands had reneged on a deal to … Continue reading

Gibson Stuns Again; Pulls Out of NAMM Show

A little more than a month ago, Gibson stunned the music world by abruptly shutting down Cakewalk, a music software company it had acquired in 2013. Now the music industry is abuzz again, after an announcement from Gibson Brands that … Continue reading

Gibson Cuts Debt Deal to Delay Payment Date

Gibson Brands has reached a deal with GSO Capital Partners, one of its existing lenders, in order to push back a loan payment by approximately two weeks to December 15th. The reason for the move was to try and time the … Continue reading