They are not closing shop, just reorganizing. They may have to scale back their offerings until they return to profitability. Other companies have survived Chapter 11.
The market is FLOODED with guitars now.
Just check Ebay or Reverb. They are practically giving guitars away.
A guitar is a product that can EASILY last decades. And most of these already bought new guitars are passed around the guitar world from buyer to buyer.
Seldom does anyone buy a brand new guitar at full retail off the shelf anymore. I NEVER do anymore.
These companies are pumping out thousands and thousands of guitars every month.
How many guitar buyers out there?