King Of Bankruptcy

The news of guitar-maker Gibson filing for bankruptcy came as a shock to guitar enthusiasts across the world. It is, after all, one of the most iconic guitar brands in history and used heavily by some of the biggest guitar legends.

Gibson Brands filed for bankruptcy with a turnaround plan that gives some of the company's lenders equity ownership of the iconic American business that's supplied guitars to B.B. King, Elvis Presley and Pete Townshend.

Wilbur Ross, the billionaire investor considered the "king of bankruptcy" for buying beaten-down companies with the potential to deliver profits, is President-elect Donald Trump's choice for commerce secretary, a senior transition official said.

The news of guitar-maker Gibson filing for bankruptcy came as a shock to guitar enthusiasts across the world. It is, after all, one of the most iconic guitar brands in history and used heavily by some of the biggest guitar legends.

Gibson Brands filed for bankruptcy with a turnaround plan that gives some of the company's lenders equity ownership of the iconic American business that's supplied guitars to B.B. King, Elvis Presley and Pete Townshend.

Wilbur Ross, the billionaire investor considered the "king of bankruptcy" for buying beaten-down companies with the potential to deliver profits, is President-elect Donald Trump's choice for commerce secretary, a senior transition official said.