Sometimes you just see a list and try to join the dots. As an ex-credit manager, you try and do the maths...look at the Grover debt, $370K. If Gibson are making 170,000 guitars a year, that's an average of c.14,200 a month. A set of Grovers retail at £60-£100, so let's say $100 a set. That's c.37,000 sets or 2.5 months of production. Seemingly, everyone knew Gibson were in trouble months and months ago and I'd have withdrawn the credit facility on the strength of that alone, just to reduce the exposure; no freaking way would I have let it accumulate to $370K. I'm sorry to sound harsh, but more fool Grover etc. for allowing Gibson to continue to ramp up debt.
I'd be interested in knowing what Samick were doing for them, given they manufacture guitars in South Korea and Gibson are allegedly US made.