Dean Guitars Parent Company Files Chapter 11

[glpg80]

Apparently the parent company to Dean and Luna guitars files chapter 11. 10 million in evaluation but over 50 million in liabilities. That’s way upside down - I don’t see them recovering from this.

The economy right now is just fucking brutal.

https://guitar.com/news/industry-news/dean-armadillo-files-bankruptcy/

 

[67mike]

Sucks, but...

Not really surprising. Pretty mediocre products in a crowded shrinking market.

Many more right behind them.

 

[Rising Farce]

That's a shame. They sold a lot of crap, but the good stuff--the USA-made guitars, mostly--could by quite good. The company seems to have lost its way when Elliott Rubinson died.

 

[napalmdeath]

That's a shame. They sold a lot of crap, but the good stuff--the USA-made guitars, mostly--could by quite good. The company seems to have lost its way when Elliott Rubinson died.

Elliott ran the company well, and their Custom Shop guitars are as good as anything out there, (in some cases better).

Firstly, they milked the Dimebag name too long. When he died they milked it more. Then, when Elliott died, his shithead son Evan took over, skimmed money, ran off their artists by not paying them, disrespecting them, badmouthing, (Mustaine, Rik Emmett, Andy Larocque, to name a few), and ran it into the ground. I believe he stopped paying Dimebag's estate for sales as well. He's the reason this is happening. He took over in 2017 and forced out in 2022. He faced embezzlement charges, and took out massive fraudulent loans with forged business records that ran up that debt, and spent the money on his extravagant lifestyle. His mother had him removed, and I believe he was escorted off the Dean property by law enforcement. He was looking at prison time, and I believe his own mother was suing him. I don't think they pursued any criminal charges, I could be wrong.