ML-Implode News - Guitar company Gibson reportedly facing bankruptcy

Gibson's Chief Financial Officer Bill Lawrence recently left the firm just six months before $375 million of senior secured notes were due to mature, according to a report by the Nashville Post earlier this month. He had been working for the company for little over a year before departing.
Gibson, which has annual revenues of more than $1 billion, has another $145 million in bank loans that will be due immediately if those senior secured notes are not refinanced by mid-July, the report said.

CEO Henry Juszkiewicz is thought to be in a race against time to decide whether to exchange the company's debt, look to try and pay it off using his equity or try to declare the company bankrupt.

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Guitar company Gibson reportedly facing bankruptcy