Gibson in moving out of their Downtown Memphis factory after 18 years

After 18 years the Gibson factory is moving locations. They are trying to re-locate there factory to a smaller place in the area.

The factory with a size of 127,620 square feet and 330 parking spaces is for sale with a price tag of $17 million. They still hope to stay for 18 to 24 months until they found a new location.

They hope to pay off a bit of their debt which is around 520 million in August according to Thestreet.com.