Guitar Manufacturer Gibson Files for Bankruptcy
Nashville, TN, May 2, 2018-Guitar manufacturer Gibson has filed for bankruptcy.
The company has between $100 million and $500 million in debt, according to CNN.
Gibson plans to recover, in part, via liquidators of its consumer electronics business.
In August 2012, Gibson was fined $300,000 for violation of the U.S. Lacey Act. The company settled with the U.S. Department of Justice over allegations that it imported ebony wood from Madagascar and rosewood and ebony from India.