Gibson Bankruptcy Statement: “Not Going Out Of Business” – Chapter 11
Gibson released the following statement in response to yesterday’s bankruptcy filing. According to paperwork filed in Delaware, the company is at least $100 million in debt. Read the statement below.
Gibson filed yesterday to reorganize under Chapter 11 of the U.S. Bankruptcy code. This does NOT mean Gibson is going out of business. It means it is reorganizing its business to focus on guitars and musical instruments and becoming a stronger company in the process.
Rest assured, there will be no changes to our warranty and return policies and we are still making, selling and shipping the world’s most iconic guitars. Our relationship with you is important to us and we’re excited for what the future holds.