The guitar manufacturer filed for bankruptcy
Gibson, a guitar company with the biggest rock and metal guitar players, including Jimi Hendrix, James Hetfield and John Lennon, filed for bankruptcy under Chapter 11 of the Bankruptcy Code. The company intends to abandon the production of consumer electronics and focus on the production of musical instruments and audio equipment.
The producer of guitars was founded in 1902 in Nashville. It owns Baldwin Piano Company, a piano manufacturer. Gibson currently employs 900 people. In February, the first information appeared about the company’s difficult financial situation and possible bankruptcy.