Another well-known company has just announced its shocking bankruptcy, revealing on its website that it has substantial debts to various creditors.
The website of Fernandes Guitars provides little information to its numerous admirers regarding the sudden shutdown of the business.
These guitars have been played by several extremely famous musicians, despite the fact that the business is recognized for its budget products.
According to Green Day frontman Billie Joe Armstrong, he has been playing the Fernandes Revival RST-50, a guitar modeled after the Fender Strat, since he was ten years old.
A seemingly active Japanese branch of the corporation detailed its past on its website.
Not only have individuals in their teens and twenties bought electric guitars, but those in their thirties and forties have also joined the party.
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even though ours is a time when people can immerse themselves in music, not merely passively consume it, the business added.
Fernandes started creating guitars in 1972, after starting operations in 1969.
A broad range of individuals, from novices to expert musicians, not only in Japan but also in the United States, Europe, and Asia, support the company as it takes pride in being Japan’s leading guitar manufacturer today, the company noted.
A statement was issued on Fernandes’ website before to the company’s sudden shutdown. Observations were made by guitar.com users:
“Unfortunately, it has become impossible to continue business,” the company said, explaining that “Fernandes Co., Ltd. (hereinafter referred to as ‘Fernandes’)” is still heavily indebted to several creditors.
The firm may be trying to sell itself, but it is also planning to apply for Chapter 11 bankruptcy protection.
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