The saga of Gibson’s bankruptcy has taken an unexpected turn, with the CEO of the company saying that they’re planning a potential foray into ukuleles. Vance Joy’s impact knows no bounds.
Of course, the company shockingly filed for bankruptcy at the beginning of last month, owing a reported US $500 million. Shortly after, the guitar giants were approved for a financial lifeline that would help them out of bankruptcy.
The plan for the company was to return to manufacturing traditional instruments, after an apparently failed attempt at computerising them. That is still going ahead, according to CEO Henry Juszkiewicz, but they’re also seeking to capitalise on a reportedly world-wide sales boom of ukuleles.
In an interview with Reuters, Juszkiewicz said that Gibson is “absolutely” considering a return to remaking the traditional Hawaiian instrument, having not manufactured them, under the Gibson brand at least, since the 1930’s. Although, according to him, it’s all still a work in progress.
“One of the most valuable ukes you can buy today is a Gibson uke made in the ’30s,” he said. “We’ve been there.”
The restructuring plan that the company has had to implement includes a complete liquidation its consumer electronic businesses, and a direct re-focus on musical instruments. Sure, none of us were thinking ukuleles, but hey – whatever works!
