FIRST AIRED: May 1, 2018

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Transcript

00:00:00
>> Thank you, Mr. Berry.>> At Chuck Berry's funeral, his was bolted to his coffin. Jimmy Page plays one. So did B.B. King.
00:00:07
>>
MUSIC]
00:00:08
>> He named his, Lucille. It's the preferred guitar from everyone from Slash to Joan Jett to Neil Young, it's a Gibson. And despite being one of the most iconic brands in the world, the company on Tuesday filed for Chapter 11 bankruptcy protection. Founded in 1894, the Nashville based company has been suffering under $500 million in debt linked to the acquisition of a consumer electronics business that made headphones, loudspeakers, and turntables.
00:00:35
Gibson now winding that down to refocus on its core guitar making and audio businesses. On Twitter, fans mourned the beloved brand. But news of its death was premature. Gibson says it's not going anywhere. And sales of its electric guitars actually grew over 10% last year. So in other words, keep on rocking in the free world.