I think Gibson is really facing bankruptcy because they are trying too hard to sell $500.00 guitars for $4,000.00. The quality they were known for in previous decades just isn’t there any more. Paul Reed Smith, Taylor, Kiesel, and other US manufacturers are offering much better instruments for comparable or lower prices.
I know a guy who has bought some Chinese knock of gibsons. Pretty darn nice actually. Pennies on the dollar.
“I think Gibson is really facing bankruptcy because they are trying too hard to sell $500.00 guitars for $4,000.00”
Many other competitors are using China to manufacture. The low end is gone.
Electric guitars made by World Musical Instruments in South Korea (PRS SE, Michael Kelly, ESP) are of amazing quality and can be had for well under $1000.
The quality is still there. Gibson players don't want PRS or Kiesel guitars. Those aren't what Jimmy Page played. They want Les Pauls.
Gibson's biggest competitor are used Gibsons. If Henry J. could figure out how to keep them off the market, he would.
It's about to get even worse. Wait until these Baby Boomers start dropping like flies and "dad's old guitar that I never learned how to play" wind up all over Craigslist and eBay for half the cost of a new one.
I have my dad’s old Gibson acoustic. He took it with him in the Army during WWII. Sounds beautiful even with the little crack it has in the wood. He bought it used for like $8.