The new instrument was a bold design for Gibson back in the day, and it’s a bold performer 48 years later. Known today and forever after as the SG Standard, the guitar that replaced Gibson’s biggest endorsement model in 1961 was a complete redrawing of the blueprint.
Gibson, what happened? There’s been talk of bankruptcy swirling around Gibson, the venerated Nashville-based guitar company, which takes in more than $1.2 billion in annual revenue but is more than $500 million in debt. Buzzards are circling. Kohlberg Kravis Roberts, the private equity giant, is a bondholder. Blackstone is also a major lender.