Based in Chicago, Illinois, James Kolbusz is senior vice president and institutional consulting director at Merrill Lynch, where he has worked since 2017. James Kolbusz also manages Windy City Guitars, a custom guitar shop in Chicago that offers full restorations as well as custom refinishing and modifications.
One of history's most iconic guitar brands, Gibson has struggled financially for several years under the leadership of CEO and longtime owner Henry Juszkiewicz, and is facing bankruptcy. Despite annual revenues of $1 billion, Gibson is less than six months away from $375 million of senior secured notes reaching maturity with another $145 million in loans due if the notes are not refinanced by July 23. Additionally, the company's CFO left the company after six months in the position, suggesting further unrest.
Juskiewicz addressed these financial concerns by releasing a statement claiming all bondholder obligations are currently met and the company expects to refinance all the bonds in the ordinary course of business. The statement also claims Gibson is focusing on products that have a greater growth potential and expects the company to see its best financial results in the next year.
The future remains to be seen, though a clearer picture of Gibson's future will be apparent in July.
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