Tiffany Kary Emma Orr Bloomberg

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.

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.