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Teac

Gibson Investment Gone, Onkyo Sells Off European Operations

July 6, 2018 by Ted 1 Comment

In Restructuring, Company Scales Back to ‘Core Competencies’

onkyologoAll 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 of the parts. Just months after their announcement, Onkyo forged ties to another Japanese audio brand, Teac/Tascam – just as Gibson stepped in to buy a majority share of them…and the combined entity began to grow.

Little did they know that just six short years later, Gibson, the investor in Onkyo, would implode into bankruptcy – forced to extricate itself from its Onkyo aspirations. Onkyo was hit as well, losing its Gibson investment – forcing them to reassess their direction. We now learn that Onkyo has sold off its entire European operations to an accessory distributor known as Aqipa GmbH.

See more on this surprising announcement by Onkyo… [Read more…] about Gibson Investment Gone, Onkyo Sells Off European Operations

Filed Under: Asian Connection, Brands, Distributors, Industry Trends, Management, Manufacturers, News, Pivot Point, Strategy Tagged With: Aqipa, Esoteric, Europe, Gibson, Gibson Brands, Gibson Guitar, Integra, Onkyo, Philips, Pioneer, Tascam, Teac, WOOX, Woox Innovations

Docs Show Gibson Bankruptcy Bigger Than You Think

May 2, 2018 by Ted 1 Comment

Photo of Gibson CES promoFounded in 1894, it is a mark of their long-term brand success that Gibson has become such a large and far-flung international organization. In a cursory review of documents submitted to the court as part of their bankruptcy filing shows, legendary performers such as Muddy Waters, BB King, Elvis Presley, Pete Townsend, Keith Richards, Duane Allman, Elvis Costello, Lenny Kravitz, Slash, Dave Grohl, Joe Bonamassa all used various Gibson products that, in some cases, became a signature of that performer. And yes, the bankruptcy filing promotes these iconic names.

But from these Gibson filings, we’ve learned so much more… [Read more…] about Docs Show Gibson Bankruptcy Bigger Than You Think

Filed Under: Asian Connection, Brands, Financial, Management, Manufacturers, News, Pivot Point, Strategy Tagged With: bankruptcy, David Berryman, Gibson Brands, Gibson Guitar, Henry Juszkiewicz, Integra, Onkyo, Tascam, Teac

Options Narrowing as Gibson & KKR Talks Fail

April 11, 2018 by Ted Leave a Comment

Photo of Gibson CES promoWe 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 bail-out opportunity slips by them, Gibson Brands sees their options narrowing, with an August deadline on a required financial restructuring of more than $500 million of debt rapidly approaching.

See more on this dire situation at Gibson Brands… [Read more…] about Options Narrowing as Gibson & KKR Talks Fail

Filed Under: Brands, Financial, Management, Manufacturers, News, Pivot Point Tagged With: Cerwin-Vega, Dave Berryman, David Berryman, Esoteric, Gibson, Gibson Brands, Gibson Guitar, Henry Juszkiewicz, Integra, KRK Systems, Onkyo, Stanton, Tascam, Teac, WOOX, Woox Innovations

Gibson, After Light Pruning, Plans Global Layoffs

March 15, 2018 by Ted 1 Comment

Hundreds of Employees Facing Pink Slips

Gibson CEO Juszkiewicz
Gibson’s CEO Henry Juszkiewicz

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 summer, the company is seeking a knight in shining armor to ride in on a white horse with a big bag of money to refinance the company’s crushing debt.

To make the company appear attractive to a lender or investor, at the end of February the company sold off its shuttered Cakewalk division and laid off about 15 employees from its famous Custom Shop. Now we learn the company is planning more substantial layoffs across the board.

See more on this latest development at Gibson… [Read more…] about Gibson, After Light Pruning, Plans Global Layoffs

Filed Under: Brands, Financial, Manufacturers, Strategy Tagged With: Esoteric, Gibson Brands, Gibson Guitar, Henry Juszkiewicz, Integra, Onkyo, Philips, Pioneer, Tascam, Teac, Teac/Tascam, WOOX

Gibson Sells One Division & Cuts Staff in Another

February 28, 2018 by Ted Leave a Comment

Famous musicians using Gibson guitarsThe 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 few short months away. We learned over the last few days that Gibson has sold their recently shuttered Cakewalk Inc. division and laid off staff in their famous Custom Shop operation.

See more about the continued dramatic developments surrounding Gibson… [Read more…] about Gibson Sells One Division & Cuts Staff in Another

Filed Under: Financial, Management, Strategy Tagged With: Gibson, Gibson Brands, Gibson Guitar, Henry Juszkiewicz, Integra, Onkyo, Pioneer, Teac, Teac/Tascam, WOOX, Woox Innovations

CEO Says Gibson Will Dump Brands

February 22, 2018 by Ted Leave a Comment

Financials Show Sales & Profits Continue to Slide

Photo of Gibson CEO Henry Juszkiewicz
Henry Juszkiewicz, CEO

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 Post that the company is going through a little “spring cleaning,” Juszkiewicz says the company already dropped their Cakewalk music software group, and other brands in their portfolio are next to go. But a financial report to bondholders shows continued deterioration of both sales and profits, suggesting that simply pruning a few brands from the portfolio may not be enough to attract new investors or lenders.

See more on the dire situation at Gibson Brands… [Read more…] about CEO Says Gibson Will Dump Brands

Filed Under: Brands, Financial, Management, Manufacturers Tagged With: Esoteric, Gibson Brands, Gibson Guitar, Henry Juszkiewicz, Integra, Onkyo, Pioneer, Tascam, Teac, Teac/Tascam

Gibson Stuns the Music World, Shuts Down Cakewalk

November 30, 2017 by Ted 5 Comments

Acquired in 2013, Cakewalk was Killed for Philips, Gibson Says

Cakewalk logoIn what many in the industry are suggesting is yet another indicator of struggles at Gibson Brands, the company announced a little over a week ago that it would wind down operations at Cakewalk Inc., a popular music creation software company it owns. Music industry-centric websites around the internet exploded with largely critical coverage of the move, and comments on Cakewalk’s website are decidedly negative – both sad and angry – as customers seek to process the shocking news.

See more on yet another move by struggling Gibson…

[Read more…] about Gibson Stuns the Music World, Shuts Down Cakewalk

Filed Under: Brands, Financial, Management, Manufacturers, News, Pivot Point, Strategy Tagged With: Cakewalk, Gibson, Gibson Brands, Gibson Guitar, Henry Juszkiewicz, Integra, Noel Borthwick, Onkyo, Pioneer, Teac, Teac/Tascam

Gibson Brands Continues to Show Signs of Strain

November 2, 2017 by Ted 1 Comment

Downsizing Factory & Dilution of Onkyo Ownership

Logo for Gibson BrandsRecent developments have thrust Gibson Brands back into the spotlight once again – a spot that CEO Henry Juszkiewicz doesn’t particularly enjoy, unless he’s there on his own terms. But this time, two tidbits of news have conspired to bring Gibson, and their financial challenges to the fore. And as we try to digest all of this, it’s clear that Gibson is continuing to show signs of strain due to sluggish results from its aggressive diversification into consumer electronics jeopardizing its ability to deal with looming huge debt payments on the loans used to acquire CE brands.

See the news that shines a light on Gibson’s troubled financial position… [Read more…] about Gibson Brands Continues to Show Signs of Strain

Filed Under: Asian Connection, Brands, Financial, Management, Manufacturers, News, Strategy Tagged With: Gibson Brands, Henry Juszkiewicz, KRK, Onkyo Corp., Onkyo Corporation, Onkyo USA, Philips, Pioneer, Stanton, Teac, Teac/Tascam

Is Gibson Brands Headed for a Default?

August 24, 2017 by Ted 3 Comments

Moody’s Hits Gibson Brands with Another Credit Downgrade

Logo for Gibson BrandsMoody’s Investors Service, one of the largest credit rating services in the world, has downgraded the credit rating for Gibson Brands, the Nashville-based parent of Gibson Guitar, Onkyo, Teac, KRK, Philips, Stanton and more. Moody’s has set their rating on Gibson Brands debt to Caa3, down one step from Caa2.

The move caused Wall Street investment analyst The Street to raise the specter of the possibility of Gibson Brands defaulting on their debt.

See why Moody’s says the Gibson Brands situation is unsustainable… [Read more…] about Is Gibson Brands Headed for a Default?

Filed Under: Brands, Financial, Management, News Tagged With: credit rating, debt, Gibson, Gibson Brands, Gibson Guitar, Henry Juszkiewicz, KRK, Moody's, Moody's Investors Services, Onkyo, Philips, Stanton, Teac

Gibson Brands Takes Control of Onkyo Corp.

July 5, 2017 by Ted Leave a Comment

BREAKING NEWS

onkyologo

In a filing with Japan’s JASDAQ stock exchange, Onkyo revealed this week that at the end of June, major investor Gibson Brands became the largest shareholder for the first time since its relationship with the Osaka-based manufacturer of higher-quality electronics began in 2012. This small announcement portends a potentially significant change in the relationship between the two entities.

See more on this news out of Japan about Gibson and Onkyo… [Read more…] about Gibson Brands Takes Control of Onkyo Corp.

Filed Under: Asian Connection, Brands, Management, Manufacturers, News, Strategy Tagged With: Elite, Esoteric, Gibson Brands, Gibson Guitar, Henry Juszkiewicz, Integra, KRK, Onkyo, Onkyo USA, Pioneer, Stanton, Tascam, Teac, WOOX

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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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