PhilW
I'm sure they tried to sell and had no takers, hence the closedown.
Gibson's issue is the circa $500 million debt hanging over them that needs a re-fi, and holding loss-making companies isn't going to help that.
We'll likely never know, but I can well imagine them having not tried to sell. I've worked for more than one employer that's gone into a tail-spin, and I've seen this a few times: the company decides to just cut all possible outgoings that don't look immediately critical, on the assumption that they can recover later. I get the feeling that's what Gibson is doing, over all its operations, and someone probably saw the Cakewalk office salary bill as something they could just get rid of.
What typically happens at the end of this kind of wild cutting is that you survive just long enough to find out you don't actually have a business any more.