The company that makes Gibson guitars and Baldwin pianos may soon face the music, financially speaking. On Tuesday, Nashville-based Gibson brands filed for Chapter 11 bankruptcy protection amid what it calls a "devastating" financial fall.
The company, founded in 1894, said it would kill its Gibson Innovations unit, which makes Philips-branded headphones, speakers and other electronic accessories. However, it added in the filing that it plans to continue designing, building and selling such iconic musical instrument brands as Wurlitzer, Dobro, Epiphone, KRK, and Cerwin Vega.
Source: USA Today