World-famous guitar maker Gibson, whose instruments have been played by the likes of John Lennon and Elvis Presley, is facing serious financial problems that threaten its very existence. The mythical company -- in Nashville, Tennessee since 1894 -- on Monday brought in a new financial director, Benson Woo, to try to rescue the ailing group. Gibson Brands, which also sells audio systems for both professionals and the general public, is working with an investment bank to set up a debt refinancing plan, the company said in a statement. The group has a $375 million debt payment due in early August, the Nashville Post reported. `While the musical instrument and pro audio segments have been profitable and growing, they are still below the level of success we saw several years ago,` CEO Henry Juszkiewicz said in the statement. He said the company, as part of a broad review
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