Chushin Filed for Bankruptcy

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Chushin Musical Instruments Mfg. Inc, which manufactured Charvel electric and acoustic guitars and basses, Jackson Stars, Grover Jackson and Cobran electric guitars and basses went out of business and filed for bankruptcy on December 5.

Founded in 1948 in Nagano Pref. as a pioneer in Japanese electric guitar manufacturing, Chushin operated under OEM contract with a name American guitar maker. At its peak time, the company reported more than 9 million yen sales, however, after the 2008 financial crisis, the sales declined nearly half. The recent stronger yen put Chushin into serious sales slump that caused heavy loss.

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