Japan’s Fernandes Guitars has filed for bankruptcy after 55 years in business. The announcement was made on the company’s official website, citing substantial debts owed to multiple creditors as the reason for their decision.
The company stated, “Fernandes Co., Ltd. (hereinafter referred to as ‘Fernandes’) is currently owed a considerable amount of debt to multiple creditors, and unfortunately, it has become impossible to continue business. We apologize for the inconvenience caused to creditors and related parties, but in light of the total amount of debt, Fernandes plans to file for bankruptcy proceedings as soon as possible. Creditors and business partners who have claims or debts against Fernandes will be contacted in writing by the attorney representing them in the bankruptcy proceedings… We apologize for the inconvenience and thank you for your patronage over the years.”
Fernandes Guitars has been well-regarded for their budget-friendly instruments, often modelled after popular Fender and Gibson styles. Their products have been used by notable musicians such as Robert Trujillo, Kirk Hammett, and Billie Joe Armstrong.
At this time, it remains uncertain whether Fernandes will be acquired by another entity or if the company will cease operations entirely. Further updates will be provided as more information becomes available.