Legendary guitar company, Gibson has filed for bankruptcy, since they have at least 100 million USD of debt.The world-famous guitar-maker company was found in Nashville in 1894. Their most famous and most popular Les Paul guitar has been one of the best selling guitars of all time. Les Paul guitars were used by Eric Clapton, Pete Townshend or Jimmy Page.
Now, the iconic guitar company has filed for bankruptcy, since they have a huge amount of money of debt. This move of the company has been expected for a period of time: earlier this year, Standard & Poor’s downgraded the Gibson brand over fears it could default on its debt obligations.
Source: www.money.ccn.com
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