However, difficulties continued as demographic changes and foreign competition slowed sales of keyboard instruments. The company responded by acquiring Wurlitzer to increase market share and by moving manufacturing overseas to reduce production costs. In 1998, the company moved its headquarters from Loveland to nearby Deerfield Township. Throughout the 1990s, the company's fortunes improved, and by 1998, the company's 270 employees at its Conway, Arkansas facility were building 2,200 grand pianos a year. However, in 2001, Baldwin was again facing difficulties, and filed for bankruptcy once again, when the company was bought by Gibson Guitar Corporation. In 2005, the company laid off some workers from its Trumann, Arkansas manufacturing plant while undergoing restructuring.