If you’re a fan of Gibson guitars, some news surfaced recently that is definitely concerning.
Per Nashville Post, the iconic guitar brand has “just six months before $375 million of senior secured notes will mature. On top of that, another $145 million in bank loans will come due immediately if those notes, issued in 2013, are not refinanced by July 23.”
Nashville Post also notes that “an orderly refinancing…looks slim,” with Debtwire reporter Reshmi Basu commenting, “At the end of the day, someone will take control of this company – be it the debtors or the bondholders.”
Long story short, this could result in bankruptcy.
Considering the long history of Gibson guitars in rock and roll, we sincerely hope they get their financials together. No one wants to see anything negative happen to them, especially the guitar greats that have been paramount to the brand.
Erica Banas is a rock/classic rock blogger that loves the smell of old vinyl in the morning.