Thursday, January 19, 2012

Kodak Files for Bankruptcy

After months of speculation, Eastman Kodak Co. filed for Chapter 11 bankruptcy protection today. In its filing, the company reported that it has $6.8 billion in debt and $5.1 billion in assets. Kodak has struggled for years as photography moved from film to digital photography.

If its filing is approved by a bankruptcy judge, the company would continue operating while it re-negotiates its debt with its creditors.

1 comment:

  1. sad on kodak. it is nonetheless encouraging to hear that oriental companies from Japan and Korea are dominating the world camera market. it is good for the world economy that non-occidental companies are now partaking a share of the pie.