Its not coincidence that Gibsons long-awaited line of new guitars, dropped this week, touts conservatism and a back-to-basics approach: The Nashville instrument-maker is in crisis mode as it hammers out a company restructuring, battles supplier lawsuits and hunts for a new CEO.
Gibson declared bankruptcy in May after admitting that its attempts to branch out into a guitar lifestyle brand including acquiring an expensive home and audio electronics business in 2014 had saddled it with untenable debt, forcing it to unburden itself and refocus on its core business of musical instruments. CEO Henry Juszkiewicz told Rolling Stone at the time that the companys bankruptcy and restructuring would help it clean the slate and concentrate 10…
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