Gibson Brands Inc., home of the iconic Gibson Les Paul guitars, has filed for Chapter 11 bankruptcy protection. The Nashville, TN-based company was expected to make this move after significant losses had put Gibson in a precarious financial position.
The legendary guitar manufacturer will continue to streamline their holdings in pursuit of stability while promising to transition in a manner "virtually invisible to customers", according to Gibson CEO Henry Juszkiewicz, who owns 36% of the company.
[Variety]
