Gibson files for bankruptcy

[Roundhill]

www.musicradar.com/news/gibson-files-for-bankruptcy

The end of the porta-studio?

 

[David Porter]

http://www.tascamforums.com/threads/wish-list-for-next-line-of-portastudios.5327/

 

[SocProf]

Correct me if I'm wrong, but Teac isn't the source of Gibson's financial woes. If Gibson pulls through, Teac (and Tascam) should be fine.

 

[cmaffia]

@SocProf The consumer electronic division ”Gibson Brand” is the source of their woes.

“The restructuring will give lenders equity in a new company, and allow Gibson to “unburden” itself of its consumer electronics division (including the likes of Philips, TASCAM and Onkyo), which it has previously blamed for its financial difficulties.”

 

[SocProf]

I've been reading multiple articles, and there seem to be multiple claims out there about what exactly went wrong. CNN Money recently wrote:

"It will liquidate its consumer electronics business, which sells headphones, speakers and accessories, while reorganizing its musical instruments and professional audio business, which has been more stable."

Teac/Tascam should be in the latter division. Whether CNN is correct or not, I don't know.
http://money.cnn.com/2018/05/01/news/companies/gibson-guitars-bankruptcy/index.html

 

[SkywaveTDR]

Gibson did nothing for Teac and just fired all but the parts department people in their take over.
Some very talented people were there at the time but now there is nothing except the parts department. I had the feeling that they bought Teac for a write off. If they were going to do anything they should have taken steps by now. A good place to start would be reel to reel heads and DC motors as they would fly off the shelves. They are a highly needed item but all they did was sold the Teac building which was a good sign of their intentions.