Gibson files for Chapter 11

Discussion in 'Guitars in General' started by tealsixtysix, May 1, 2018.

  1. webe123

    webe123 Member

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    Well....ummmmm.......his mom? Does that count?
     
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  2. toomanyamps

    toomanyamps Member

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    The issue I have with PRS and Fender is nobody here calls them on their pricing. PRS guitars don't hold nearly as much of their value used as Gibson does. Fender can introduce a Mexican made Paisley signature at $1200 and everyone says what a great "value", when you can buy a whole bunch of USA Gibson guitars for much less and everyone says they are overpriced.
     
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  3. Jon Silberman

    Jon Silberman 10Q Jerry & Dickey Gold Supporting Member

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    "• There will be no change to the quality of service and support our customers have come to expect from us."

    Gibson is doomed.
     
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  4. DRS

    DRS Member

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    I remember this press conference or whatever it was. That is when I knew for a fact that Gibson was headed for bankruptcy. Look at the guy at the top in the balcony doing a facepalm. That is the face of reasonable people around the world. Look at Henry's crazy face.
     
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  5. DGrig

    DGrig Member

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    Bwahahaha!!!
     
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  6. griggsterr

    griggsterr Supporting Member

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    If you keep listening there are some fine chops on display. He certainly doesn't look like a guitar God, but then neither have I.
     
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  7. griggsterr

    griggsterr Supporting Member

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    But don't get me wrong, no one has had it coming more than this bunch of goobers. I mean Henry and his bunch. I worked for them a little they were insane.
     
  8. BaoBao

    BaoBao Member

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    All three of them have good guitars for less. https://spinditty.com/instruments-gear/Best-Electric-Guitar-Under-1000-Dollars
    I'm still unclear how this is relevant to a Gibson Chapter 11 thread, or the statement of IRG that Gibson needs somebody ".. who also knows how to run a business, and to make the necessary updates to the factory process".

    C'mon man. You love Gibson, and that's great. They do make great guitars (usually/most of the time/almost always - choose your option). But as a company they are screwed, and that's what the thread is about - no need to distract from any other brand.
     
  9. hkglocksig23

    hkglocksig23 Supporting Member

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    awesome - glad they filed for bankruptcy -- seems like a terribly run company out of touch with the market (often happens to old companies unable to properly stay with the times, and like robo-tuners and lifestyle company goals... the old clowns/old guard fails at trying to keep up with the times) hopefully new management can save the iconic brand
     
  10. Mentat

    Mentat Member

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    If they keep making those expensive lime green acoustic guitars , they should be fine.
     
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  11. SinglecutGuy

    SinglecutGuy Member

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    That's because dealers whore them (PRS) out at severe discounts to move them, rather than sell them on their merit. This is what directly affects their resale value.
     
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  12. SinglecutGuy

    SinglecutGuy Member

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    You're $500 million in debt, but let's keep giving the moron on top who got you there $2.1 million a year for salary. Think about how many guitars have to be sold to cover just that salary. That's SICKENING that he would still be allowed to make that much.
     
  13. toomanyamps

    toomanyamps Member

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    It just seems that way compared to the crowd here that pulls out the torches and pitchforks every time Gibson is mentioned.
     
  14. toomanyamps

    toomanyamps Member

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    That would mean PRS' MSRP is too high.
     
  15. aceinet

    aceinet Member

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    Keeping the old executive team on during the transition is common, no matter how bad the old executives ran the company. Usually to assure potential new owners there will be someone there who "knows" the business. Plenty of times the old executives have zero involvement once new owners come on board. But getting new owners in is never a guarantee for success, as many repeat the same mistakes of the previous owners. Usually business 101, repeating the mistakes others made in the past.
     
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  16. tkozal

    tkozal Member

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    As a small business retailer (not music). I would love to know what the internals say about unsold inventory past xxxx number of days. Or the total write off due to unsold. Bankruptcy takes away a lot of things.
     
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  17. SinglecutGuy

    SinglecutGuy Member

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    No that would mean that dealers don’t sell them by value, they sell them by price.
     
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  18. Help!I'maRock!

    Help!I'maRock! Member

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    I have no dog in this fight, but I am curious what's considered a "severe discount". If you could elaborate, i would greatly appreciate it. :)
     
  19. SinglecutGuy

    SinglecutGuy Member

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    I spent enough time as a PRS dealer in the last 10 years, to, on an almost every-sale basis, have customers come at me with ridiculous quotes from dealers on PRS models, as a means to try and haggle with our prices, which were always at MAP. I would understand if I tried selling above MAP, but I that's not the case. Some (but not all) of them were from private dealers known for being the self-proclaimed "#1/2/3 PRS Dealer", as well as from a standard privately owned shop that aren't well-known. I also had this from online chains who you wouldn't normal expect to discount like this.

    By severe discount I mean, often 10-15% above dealer wholesale. Margins where you can't make a living, or keep the doors open if that's the average profit margin on your sales.

    I've experienced this long enough to confidently say that this is not common in other like-brands or products.
     
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  20. SgtThump

    SgtThump Supporting Member

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    Yikes
     
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