Gibson in financial trouble

There are signs that Gibson’s move to diversify isn’t working out as planned. Moody’s Investor Service has downgraded Gibson Brands (formerly Gibson Guitar Corporation) credit to junk status, and according to reports, the company has put up two of its Nashville warehouses for sale as a result.

Gibson has been in trouble for a long time. I’m not sure if they tried to buy their way out of it or tried to ignore it, but either way, it seems to be getting worse.