As expected, Gibson announces plans to move Memphis operations to Nashville

[capitalist]

Gibson continues to have financial difficulties IMO, too many kids would rather play Angry Birds, etc., with their phones than play guitar. :{

 

https://dailymemphian.com/article/15...n-to-Nashville

[Phil O'Keefe]

Gibson continues to have financial difficulties IMO' date='[/quote']

 

What gives you that impression? As I understand it (and there's no insider knowledge involved whatsoever), the guitar divisions were always profitable - the acquisition of the consumer electronics division from Phillips and the resulting debt is what hurt the corporation and caused the financial issues, and that was all discharged in the bankruptcy, which the company just exited on November 1.

 

IIRC, selling the Memphis location was decided and done before the bankruptcy was filed. I'm assuming that the new owners have development plans for that space, and since Gibson no longer owns the property, and the lease is going to expire soon, it's either move the manufacturing that is being done there to Nashville or find a new building to lease or buy in Memphis... apparently the new management decided that it made more sense to do the former rather than to pursue the later option.

 

Seems like a reasonable business decision to me, and one that doesn't suggest any sort of ongoing financial issues post-bankruptcy, but YMMV.