Sina US Stock News reported on the morning of the 20th Beijing time that, according to foreign media reports, the classic guitar brand Gibson (Gibson) may be on the verge of bankruptcy.

Gibson was founded in Michigan, USA, and has a history of more than 100 years. The “Les Paul” and “SG” electric guitars it produces have been used by countless musicians, including Slash, Bob Marley, and Carlos Santana.

The Nashville Post reported last month that the company's $375 million premium guarantee bond was about to expire. If this batch of senior guarantee bonds cannot be refinanced by mid-July, then the company's other $145 million bank loan will expire immediately.

Gibson CEO Henry Juszkiewicz is in a race against time to decide whether to replace the company's debts, use his shares to pay them off, or simply declare bankruptcy. The company has hired investment bank Jeffries (Jeffries) to help it cope with its current financial woes.

Gibson issued a statement last Thursday saying that an ongoing streamlining strategy will soon help it achieve its best financial results ever in the year ahead. The company also said it will be able to repay all of the company's debts within 7 years.