Report: One Of The Greatest Guitar Companies Ever Is ‘Running Out Of Time’

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Things Are Not Looking Good For This Company…

When thinking of guitars that are synonymous with rock & roll, you’d have to be crazy or sleeping not to think of Gibson. For well over 50 years, Gibson has been the axe of choice for many, many rock legends such as Jimmy Page, Slash, Ted Nugent, Billy Gibbons, Tony Iommi, and so many more. Gibson’s look, quality, and tone have all helped shape the sound of rock & roll into what it is today. Unfortunately, however, it seems like those days are over.

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According to the Nashville Post, Gibson is in a financial world of hurt and things aren’t looking good. The company is currently $375 million in debt, and if those funds aren’t paid up by the July 23rd, they will owe an extra $145 million. Several financial experts/commentators have all predicted that Gibson will not be able to pay this note by the given deadline and in turn will soon go under.

Other factors of Gibson’s troubles include an emergency loan of $130 million that the company took out last year. Apparently, there was also a lack of clarity from CEO Henry Juszkiewicz to his investors, which caused great worry. And on top of all of that, a noticeable lack in quality in the instruments themselves has caused a huge decline in sales, which has made the financial wound even bigger. Needless to say, Gibson is not in a good way and things need to change if the company wants to remain afloat…

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