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Gibson Pro Audio

Gibson, Protected from Creditors, Still Loses Money

July 6, 2018 by Ted Leave a Comment

News of Gibson’s $10M Monthly Loss Gives Some Pause

Photo of Gibson CES promoGibson Brands, Inc. declared bankruptcy on May 1, 2018, thereby placing themselves in Chapter 11 protection from creditors. Now under the guidance of bankruptcy court, the company buys itself time to put a plan together to present to the judge offering a path out of bankruptcy for the company. During this time, debts are frozen until the judge determines the final disposition – a disposition that typically includes some level of payment to debtors, both secured and unsecured.

So how is Gibson doing? According to a story by the Nashville Post, Gibson posted a loss of nearly $10 million in May – its first month under bankruptcy court protection from creditors.

See more on the bumpy bankruptcy road upon which Gibson finds itself… [Read more…] about Gibson, Protected from Creditors, Still Loses Money

Filed Under: Financial, Management, News, Strategy Tagged With: bankruptcy, Gibson, Gibson Brands, Gibson Guitar, Gibson Pro Audio, Henry Juszkiewicz

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Ted Green Bio

A former dealer, installer, manufac-turer, distributor & more. With a focus on business strategy, my goal is to help you make better decisions for more success.

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