Gibson officially files..

[everettT]

Gibson files Chapter 11

https://amp.tennessean.com/amp/567946002?__twitter_impression=true

While music instruments will continue, the Innovations division is dead including Onkyo

 

[highfigh]

Gibson files Chapter 11

https://amp.tennessean.com/amp/567946002?__twitter_impression=true

While music instruments will continue, the Innovations division is dead including Onkyo

Unless they can sell it.

 

[Swerd]

Another icon of the past takes a hit. Sad. I'm not a guitar player, but I've always liked the Gibson sound.

Music, like so much else these days, has transformed into something digital that can be programmed, downloaded, sampled, or otherwise manipulated by a computer. Guitar playing, a manual skill which requires practice, and talent, has become much less common.

Vinyl LPs, another piece of aged technology, has had a minor resurgence after what seemed a permanent death. But manually played analog musical instruments seem to be dying out. Why is that?

I guess that trumpet and saxophone fans from the past may have said the same in the 1950s about those new electric guitars.

 

[everettT]

Unless they can sell it.

Yup, needs to happen quick. Not sure who in the industry has the capital. LG?

 

[highfigh]

Yup, needs to happen quick. Not sure who in the industry has the capital. LG?

Sound United, if they want to be leveraged to the hilt and begin to create some kind of small monopoly.

 

[Johnny2Bad]

Gibson Musical Instruments (Gibson, Epiphone, KRK) will emerge in good standing, and there should be no interruption in operations while under Chapter 11. Divesture (selling off) of interests in Onkyo/Integra/Pioneer and TEAC/Esoteric/Tascam, as well as a number of other audio-relaed brands is expected, however. The future of those companies is unknown.

 

[BoredSysAdmin]

Imo Teac/Tascam/Esoteric? should be sold of to highest bidders - neither of them are relevant.
Same goes for Integra - Toyota/Lexus model Imo never really worked out for them.
Revamp Onkyo brand to be king of value, high quality device, same for Pio, only targeting even lower price point. KRK should be folder into Pioneer brand.

Gibson should shutdown their stupid headphones product line and focus on guitars/amps

 

[TLS Guy]

Imo Teac/Tascam/Esoteric? should be sold of to highest bidders - neither of them are relevant.
Same goes for Integra - Toyota/Lexus model Imo never really worked out for them.
Revamp Onkyo brand to be king of value, high quality device, same for Pio, only targeting even lower price point. KRK should be folder into Pioneer brand.

Gibson should shutdown their stupid headphones product line and focus on guitars/amps

I would not assume this entity will survive chapter 11. There is a trend that started in Europe for bankruptcy to end with an asset sale after there being no buyer. This trend is spreading here.
My guess is that this will end in an asset sale.

Gibson own TEAC and have a 16.5% stake in Onkyo/Pioneer and are the second largest share holder. This may not end well.

 

[lovinthehd]

I would not assume this entity will survive chapter 11. There is a trend that started in Europe for bankruptcy to end with an asset sale after there being no buyer. This trend is spreading here.
My guess is that this will end in an asset sale.

Gibson own TEAC and have a 16.5% stake in Onkyo/Pioneer and are the second largest share holder. This may not end well.

I think they have majority share in Onkyo USA, separately from what sounds right for the core company....

 

[DIY Junky]

Another icon of the past takes a hit. Sad. I'm not a guitar player, but I've always liked the Gibson sound.

Music, like so much else these days, has transformed into something digital that can be programmed, downloaded, sampled, or otherwise manipulated by a computer. Guitar playing, a manual skill which requires practice, and talent, has become much less common.

Vinyl LPs, another piece of aged technology, has had a minor resurgence after what seemed a permanent death. But manually played analog musical instruments seem to be dying out. Why is that?

I guess that trumpet and saxophone fans from the past may have said the same in the 1950s about those new electric guitars.

I still love CAKE have seen them 3 time live.. gotta love the Brass.. and check out Little Hurricane on you tube. Old school dirty blues.. I love techno and old school stuff.. the audio spectrum is what techno is about.. And lets not forget Days of The New.. Best acoustic guitar ever in my book.. Or MOON Hooch you want some @##&*$ up Sax ... its out there just gotta look

 

[DIY Junky]

Gibson files Chapter 11

https://amp.tennessean.com/amp/567946002?__twitter_impression=true

While music instruments will continue, the Innovations division is dead including Onkyo

Is there a audio company alive that was not been bought out or gone belly up ? Harman Kardon ? Denon ? Marrantz ? Just the ultra high end companies like McIntosh are staying pure.. Sad to see another great company hurting

 

[TheWarrior]

I love Gibson guitars with the exception of their bias against us Lefties, but I do hope they can strip themselves of the debt incurred by venture capitalists and refocus their business on the one thing they're good at, guitar making!

 

[Swerd]

I love Gibson guitars with the exception of their bias against us Lefties, but I do hope they can strip themselves of the debt incurred by venture capitalists and refocus their business on the one thing they're good at, guitar making!

Lefties of the world, rise up and unite!

 

[BoredSysAdmin]

I love Gibson guitars with the exception of their bias against us Lefties

What do you mean? Gibson equally loves lefties http://store.gibson.com/left-handed/

 

[TheWarrior]

What do you mean? Gibson equally loves lefties http://store.gibson.com/left-handed/

"Disclaimer: Left Handed guitars are not currently in stock but are available for purchase. It will take 12 weeks to fulfill the order."

That's why I switched to Carvin, now Kiesel guitars. If I have to wait, might as well have it custom made (and still save money!)

 

[lovinthehd]

Is there a audio company alive that was not been bought out or gone belly up ? Harman Kardon ? Denon ? Marrantz ? Just the ultra high end companies like McIntosh are staying pure.. Sad to see another great company hurting

McIntosh has been sold a coupla times IIRC, believe even D&M (Denon & Marantz Holdings I think) owned them for a time, now owned by a european group? Yep, memory not too bad https://www.cepro.com/article/mcintosh_sold_again_in_management_buyout_of_fine_sounds/

 

[highfigh]

I would not assume this entity will survive chapter 11. There is a trend that started in Europe for bankruptcy to end with an asset sale after there being no buyer. This trend is spreading here.
My guess is that this will end in an asset sale.

Gibson own TEAC and have a 16.5% stake in Onkyo/Pioneer and are the second largest share holder. This may not end well.

I can think of a few musicians and wannabe musicians who could buy Gibson and might consider it, if pressed. The reason this has come to the point of filing Ch 11 is that Henry waited too long- any good manager would have done this much sooner, when it wasn't as far down the drain. They need to dump TEAC and Onkyo/Pioneer before anything else, then see what they have to work with.

 

[highfigh]

McIntosh has been sold a coupla times IIRC, believe even D&M (Denon & Marantz Holdings I think) owned them for a time, now owned by a european group? Yep, memory not too bad https://www.cepro.com/article/mcintosh_sold_again_in_management_buyout_of_fine_sounds/

Sound United owns D&M and Boston Acoustics, which they seem to be phasing out. They also own Polk, Definitive Technology, HEOS and Classe.

 

[2channel lover]

Imo Teac/Tascam/Esoteric? should be sold of to highest bidders - neither of them are relevant.
Same goes for Integra - Toyota/Lexus model Imo never really worked out for them.
Revamp Onkyo brand to be king of value, high quality device, same for Pio, only targeting even lower price point. KRK should be folder into Pioneer brand.

Gibson should shutdown their stupid headphones product line and focus on guitars/amps

Higher revenue, lower margin is the Walmart model, but you can't do it with debt. Expansion via debt in a niche market is a death pill.

Scale back to what you know and do well.

 

[DIY Junky]

Sound United owns D&M and Boston Acoustics, which they seem to be phasing out. They also own Polk, Definitive Technology, HEOS and Classe.

WOW... worse than I thought seems like Sound United is buying everyone up. What about NAD ? That's sucks about McIntosh guess I need to read more ..