Off Topic: Business Sustainability: Iconic Guitar Brand Faces Bankruptcy
My point for posting this is to provide some awareness about how easily a well establushed brand can run into financial trouble quickly and quietly… to the point it may force them to completely change or no longer exist as an organization. Also to commend EBMM for continuing to keep this in mind, even if it means eliminating possible options for us dingbats as we complain without perspective about these tough business choices.
I hope the organization below can get headed in the right direction!
Full story here:
“Iconic guitar brand Gibson could be on the brink of bankruptcy, according to a report.
The company, whose Les Paul and SG instruments have been played by generations of musicians, including stars such as Slash, Bob Marley and Carlos Santana, was founded more than 100 years ago in Michigan.
Gibson’s Chief Financial Officer Bill Lawrence recently left the firm just six months before $375 million of senior secured notes were due to mature…”
Again, much appreciation to BP and crew for making tough decisions every day so that us dingbats have amazing instruments to play!