The maker of a cherished rock mainstay is seeking bankruptcy
protection after diversification led to ‘devastating’ financial fall
Gibson Brands, the makers of rock’s favourite Les Paul, SG and Flying V guitars, has filed for bankruptcy protection citing a “devastating” financial fall after its investments in consumer electronic brands failed to pay off.
But fundamentally, he said, the generation that aspired to be rock guitar gods like Led Zepplin’s Page have lost their mojo. Despite the success of Jack White, Gary Clark Jr and analog-rock bands like The Black Keys, the new generation of musicians are more likely to be masters of DJ technology like Ableton.
“What we need is guitar heroes,” Gruhn explained.