Gibson, Protected from Creditors, Still Loses Money

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

Gibson Investment Gone, Onkyo Sells Off European Operations

In Restructuring, Company Scales Back to ‘Core Competencies’ All the way back in 2012, Onkyo Corp. and Gibson Guitar Corp. came together to partner in what both hoped would become an entity where the whole was greater than the sum … Continue reading

Gibson Hits a Sour Note with Philips & Creditors

Gibson, as Strata-gee previously reported, filed for bankruptcy protection on May 1st in a pre-negotiated package with principal noteholders of the company’s substantial debt – debt that was now in default. But while that deal suggested a smooth path for … Continue reading

Options Narrowing as Gibson & KKR Talks Fail

We learned last week that talks between Gibson Brands and deal making king KKR Credit Advisors fell apart in a dispute over “the appropriate consideration for the various parties involved,” according to a statement from Gibson Brands. As yet another … 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

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

The Forgotten Thiel

Strata-gee *EXCLUSIVE* Interview with Tom Thiel Although Strata-gee has loosely followed Thiel Audio for many years, since 2012, when the company was sold by co-founder Kathy Gornik to a group of Tennessee private equity investors, our coverage intensified. Part of … 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 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