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Author Topic: Gibson Bankruptcy & Tascam  (Read 1428 times)

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Offline mandodon

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Gibson Bankruptcy & Tascam
« on: May 01, 2018, 03:19:47 PM »
Gibson owns a majority share of Tascam and Gibson just filed for Chapter 11 bankruptcy. Their reorganization plan calls for them to liquidate all electronics/lifestyle divisions and focus on guitar building. I wonder what the future holds for Tascam.

https://www.bloomberg.com/news/articles/2018-05-01/gibson-files-for-bankruptcy-with-deal-to-renew-guitar-business

I should have considered something like this would happen, but I bought a Tascam DR100 mk3 last year.

Offline Jammin72

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Re: Gibson Bankruptcy & Tascam
« Reply #1 on: May 01, 2018, 05:23:59 PM »
Lol... Me this week.


Oh well.  Hope it doesn't break.
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Offline Jammin72

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Re: Gibson Bankruptcy & Tascam
« Reply #2 on: May 01, 2018, 05:27:23 PM »
I would figure Harman would buy them?  If not to add the catalog to control some of the competition.
Yes, but what do you HEAR?

Offline fanofjam

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Re: Gibson Bankruptcy & Tascam
« Reply #3 on: May 02, 2018, 01:22:57 PM »
Lol... Me this week.


For what it's worth, you'll receive approximately the same service from Tascam after they no longer exist as we have received from them in the past.  The only difference will be that there won't be anyone on the other end of the line telling you that you're fucked if your gear messes up, though by now we should all know this instinctively.

Offline lsd2525

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Re: Gibson Bankruptcy & Tascam
« Reply #4 on: May 02, 2018, 01:28:56 PM »
I would figure Harman would buy them?  If not to add the catalog to control some of the competition.

Samsung bought Harman last year I think. Not sure they would have any appetite to pick up Teac/Tascam
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Offline dallman

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Re: Gibson Bankruptcy & Tascam
« Reply #5 on: May 02, 2018, 04:02:03 PM »

News :: Press Releases

2018-05-01 - Notice regarding Gibson Brands, Inc.


Gibson Brands, Inc. (Gibson), the parent company of TEAC Corporation (TEAC), filed for Chapter 11 bankruptcy protection on May 1, 2018.  This has been widely reported in the financial press, internet and other media.  TEAC does not make any comment to these articles due to the lack of direct confirmation of the information.

TEAC does not make any comment on how the restructuring will impact the relationship between TEAC and Gibson; however, the possible impacts on the day-to-day operations of TEAC are estimated to be insignificant.  While Gibson owns a majority interest in TEAC, TEAC operates autonomously from Gibson including suppliers, distribution channels, customers, legal agreements, bank and financial arrangements, human resources and personnel.  TEAC develops and executes its own business strategies and is responsible for the results.

TEAC will continue its business operations as normal while Gibson is working through its restructuring.
 
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obsidian

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Re: Gibson Bankruptcy & Tascam
« Reply #6 on: May 05, 2018, 01:37:53 PM »

News :: Press Releases

2018-05-01 - Notice regarding Gibson Brands, Inc.


Gibson Brands, Inc. (Gibson), the parent company of TEAC Corporation (TEAC), filed for Chapter 11 bankruptcy protection on May 1, 2018.  This has been widely reported in the financial press, internet and other media.  TEAC does not make any comment to these articles due to the lack of direct confirmation of the information.

TEAC does not make any comment on how the restructuring will impact the relationship between TEAC and Gibson; however, the possible impacts on the day-to-day operations of TEAC are estimated to be insignificant.  While Gibson owns a majority interest in TEAC, TEAC operates autonomously from Gibson including suppliers, distribution channels, customers, legal agreements, bank and financial arrangements, human resources and personnel.  TEAC develops and executes its own business strategies and is responsible for the results.

TEAC will continue its business operations as normal while Gibson is working through its restructuring.

Thanks for that. I just purchased a Tascam DR100 mk3 last night off FullCompass and was a bit worried. I'm excited again ... really looking forward to using the unit.


Offline IronFilm

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Re: Gibson Bankruptcy & Tascam
« Reply #7 on: May 21, 2018, 10:52:33 PM »
While they say the impact is insignificant, I'd suppose it must still have made some impact on them when they're trying to play for the future and invest into R&D?

Could be why we still haven't seen any kind of response from Tascam to Zoom's F8/F4 (and soon F8n!). Aside from the big price slashes on the Tascam HS-P82

Offline spyder9

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Re: Gibson Bankruptcy & Tascam
« Reply #8 on: May 22, 2018, 12:37:00 AM »
In cases like this, where Teac operates autonomously, they'll probably be spun off during bankruptcy proceedings.  Very common practice.  Look for that to happen sometime in the next year. 

Offline daspyknows

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Re: Gibson Bankruptcy & Tascam
« Reply #9 on: May 31, 2018, 01:50:34 PM »
In cases like this, where Teac operates autonomously, they'll probably be spun off during bankruptcy proceedings.  Very common practice.  Look for that to happen sometime in the next year.

Spun off as a sale to some other corporate entity/conglomerate.  Whether it is good or bad depends who buys it.

 

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