Money

Gibson Files For Bankruptcy

Gibson guitars have filed for bankruptcy. NPR reports:

The petition, filed on Tuesday, notes that the company currently has up to $500 million in debt and will focus its operations on its musical instruments business, “unburdened by the challenges experienced by [the company’s] separate, primarily non-U.S., consumer electronics business.” That business includes the brands KRK, Cerwin Vega and Stanton, whose lines include studio monitors, headphones and turntables.

Jason Tate
Jason Tate Jason Tate is the founder and editor-in-chief of chorus.fm. He can also be found at @jason_tate on Twitter and on Facebook.