S&P downgrades Gibson

[lmacmil]

No surprise given their financial situation.

http://money.cnn.com/2018/02/22/news...ars/index.html

[Athens]

Originally Posted by lmacmil

No surprise given their financial situation.

http://money.cnn.com/2018/02/22/news...ars/index.html

Nothing new. I'm starting to treat these like the "GC is on the verge of closing!" threads.

[RefrigRaider]

So let's all go out and buy Gibson guitars and bale (bail?) them out!!!!!

[Side Man]

Originally Posted by RefrigRaider

So let's all go out and buy Gibson guitars and bale (bail?) them out!!!!!

As my grandfather used to say, "Let's don't and say we did."...

[Scoobtay]

Gibson is blaming it on CITIES? Lame. Maybe they should blame it on having the worst QC in the industry instead? Fan of their guitars, by the way, but sometimes the truth hurts

[JohnDenverGirl]

does anyone know if Gibson has to honor warranty claims post-bankruptcy from guitars bought before bankruptcy filing if they end up filing bankruptcy and restructuring?

[PiousDevil]

Originally Posted by JohnDenverGirl

does anyone know if Gibson has to honor warranty claims post-bankruptcy from guitars bought before bankruptcy filing if they end up filing bankruptcy and restructuring?

I would doubt it. I mean, they won't exist?

[Watt]

Originally Posted by JohnDenverGirl

does anyone know if Gibson has to honor warranty claims post-bankruptcy from guitars bought before bankruptcy filing if they end up filing bankruptcy and restructuring?

Short answer is, no, if they file they won't have to honor pre-filing warranty claims. But they are likely to in order to preserve goodwill.

[Watt]

Originally Posted by PiousDevil

I would doubt it. I mean, they won't exist?

Regardless of what you believe (or want to), Gibson will not cease to exist if they file a Chapter 11 bankruptcy petition.

[Philosophaster]

Warranty claimants are treated as creditors and there is a distinct possibility the warranty would not be honored. This would be kind of a nuclear option though.http://www.businessinsider.com/sears...kruptcy-2017-3

[1neeto]

Originally Posted by nkatsonis

Regardless of what you believe (or want to), Gibson will not cease to exist if they file a Chapter 11 bankruptcy petition.

Yep. Imagine if Walmart or Amazon buys Gibson. Les Pauls hanging next to First Act guitars at Walmart? 🤣

[David Eastwood]

And in the grand scheme of things, does it really matter?

Gibson goes under. Some replica of Gibson will resurrect.

Nobody actually *needs* a guitar.

[Kerbie]

Please keep these posts polite and within the rules.

[Seagull S6]

When they go under, a lot of people will be hurt. Do they have a funded retirement plan? IDK, but I doubt it.

[der Geist]

They will never disappear. Their name is far too valuable. Look what Hostess has gone through in the last 4 years.