Gibson guitars, such a fixture in music history that Chuck Berry was laid to rest with his and B.B. King affectionately named his “Lucille,” faces a setback with its maker’s decision to seek bankruptcy protection.
But the decision Tuesday by Gibson Brands Inc. came with an assurance that the company is refocusing on its specialty, musical instruments, and moving away from its debt-plagued push to sell home electronics.
In the hands of musicians from Jimmy Page to Duane Allman and Slash, Gibson’s electric guitars have been a foundational element of blues and rock.
Gibson was founded in 1894 and is based in Nashville, Tennessee. It also makes the Epiphone and Wurlitzer pianos.
The company has already sold off some noncore brands that contributed to its burdensome debt load.