It really comes to something when a brand as iconic as Gibson Guitars cant stay afloat!

Calm down Roberjerman...lol
We got your message!

I certainly would have to disagree on the age of rock and the guitar hero being dead and past.
Any of the many who attended Rockville2018 can attest to that 

Gibson has been severely mismanaged for over a decade.  Bad business decisions after even worse business decisions can destroy a company.  Getting rid of your best guitar craftsmen, auto-tuning guitars, expansion into lifestyle electronics along with massive private equity debt are some of the actions that sank Gibson.  The bankruptcy is an attempt at reorganizing, but if it fails and Gibson truly dies it really isn't that bad.  The value of the old Kalamazoo instruments will surge which is a good thing for the musicians who own them.

Since they plan to "wind down" their consumer electronics groups, the bankruptcy bodes an ill wind for Esoteric.

American workers are OK .
American management is world's worse.