Kodak Files Chapter 11

In an expected move, Kodak filed for chapter 11 bankruptcy today. According to an announcement at the KodakTtransforms website, the iconic American photo company anticipates that reorganization as a result of chapter 11 will “enable Kodak to bolster liquidity in the U.S. and abroad, monetize non-strategic intellectual property, fairly resolve legacy liabilities, and enable the Company to focus on its most valuable business lines.” In other words, this is a far less grim turn of events that the full extinction of the brand many had predicted. The press release says that “the company has sufficient liquidity to operate its business during chapter 11″ and CEO Antonio Perez relates that “Chapter 11 gives us the best opportunities to maximize the value…of our technology portfolio: our digital capture patents…and our breakthrough printing and deposition technologies.”

(Kodak, via Engadget)

 

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3 Responses to “Kodak Files Chapter 11”

  1. [...] Point” today invited photographer Eamonn McCabe on air to reflect on the news that Kodak just filed for chapter 11 bankruptcy. I listened to the segment in my car, on the way back to the office from lunch, and as I did so I [...]

  2. Naty says:

    man seeitmmos you just can’t touch the colors that come off of film…so fresh and natural. very nice!

  3. [...] the first half of 2012.” This news comes less than one month after the company filed for chapter 11 bankruptcy, a move that Kodak said would result in a rigorous reorganization of the company. Not surprisingly, [...]

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