We have been closely following – first Gibson Guitar and then Gibson Brands – from their decision in 2012 to shoot for the stars by using OPM (other people’s money) to make highly leveraged…and highly questionable…acquisitions of various consumer electronics brands (a category in which the CEO and his team had no experience) to their recent 2018 bankruptcy. Gibson was trying to diversify their musical instrument business into something that now former CEO Henry Juszkiewicz called a music lifestyle brand. Instead, they wound up in bankruptcy.
bankruptcy
Docs Show Gibson Bankruptcy Bigger Than You Think
Founded in 1894, it is a mark of their long-term brand success that Gibson has become such a large and far-flung international organization. In a cursory review of documents submitted to the court as part of their bankruptcy filing shows, legendary performers such as Muddy Waters, BB King, Elvis Presley, Pete Townsend, Keith Richards, Duane Allman, Elvis Costello, Lenny Kravitz, Slash, Dave Grohl, Joe Bonamassa all used various Gibson products that, in some cases, became a signature of that performer. And yes, the bankruptcy filing promotes these iconic names.
But from these Gibson filings, we’ve learned so much more… [Read more…] about Docs Show Gibson Bankruptcy Bigger Than You Think
Radio Shack’s 2nd Bankruptcy in 2 Years; The Era of The Gadget is Over
In yet another clear sign that the era of the gadget is over, once prodigious gadget-seller Radio Shack files for bankruptcy on Wednesday…again. This is the second bankruptcy filing for the company in just two years. A strategy of partnering with Sprint didn’t produce the revenue the new owner’s anticipated and this second filing was unavoidable. So what happens now?
See what is in store for wounded giant Radio Shack… [Read more…] about Radio Shack’s 2nd Bankruptcy in 2 Years; The Era of The Gadget is Over
Electronics Expo Falls into Bankruptcy
Wayne, NJ-based Electronics Expo, an independent regional retail chain selling quality A/V electronics, has entered bankruptcy as of March 31st. The company, which at one time had as many as eight locations at its peak, is now down to two showrooms and one outlet center at its offices, according to a report by NorthJersey.com. Electronics Expo is owned by Leon Temiz, once a partner with family members in another regional player, Sixth Avenue Electronics.
See the “Who’s Who” list of vendors who were hit in this most recent bankruptcy… [Read more…] about Electronics Expo Falls into Bankruptcy
The Apple Report – Ripe or Rotten?
<February 15, 2012> While Wall Street has been oooing and aaahhhhhing over Apple, Inc.’s stock breaching a significant price of $500 per share earlier this week…only to drop below it again in trading today (closing at $497.67)…there has been a slew of significant Apple-related stories in today’s news on several major fronts. We offer below a summary of these significant stories from today’s press: [Read more…] about The Apple Report – Ripe or Rotten?
