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Gibson Guitars Maker Officially Files For Chapter 11 Bankruptcy Protection


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Gibson Brands, Inc. who of course make Gibson guitars, have officially filed for Chapter11 bankruptcy protection. The company are planning to attempt to reorganize under the new ownership of their lenders during this period. Part of that plan includes winding down their overseas consumer electronics business which hasn’t turned out to be the success they had planned, in part helping them amass $500 million in debt. For more on how the company hope to bounce back, head to reuters.com.

It would appear that business decisions aren’t the only thing that have weighed down the brand in recent years however, as they’ve also faced criticism for some of their other choices. Last year Mastodon guitarist Bill Kelliher minced no words in his feelings towards the company, claiming that “they treat their artists like shit” after his relationship as a sponsored artist with the company turned sour.

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