Community Chat

Quick links
Turn on suggestions Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Do you mean 
Reply
Respected Contributor
Lotus
Posts: 3,456
Registered: ‎03-09-2010

Kodak files for Chapter 11

‎01-19-2012 02:15 PM

Eastman Kodak Co, which invented the handheld camera and helped bring the world the first pictures from the moon, has filed for bankruptcy protection, capping a prolonged plunge for what remains one of America's best-known companies.

The 130-year-old photographic film pioneer, which had tried to restructure to become a seller of consumer products like cameras, said it had also obtained a $950 million, 18-month credit facility from Citigroup to keep it going.

The loan and bankruptcy protection from U.S. trade creditors may give Kodak the time it needs to find buyers for some of its 1,100 digital patents, the key to its remaining value, and to reshape its business while continuing to pay its 17,000 workers.

Article here

"People with closed hearts will always feel as though they are at war with the world." ~My friend Nancy
Report Inappropriate Content
Message 1 of 1 (129 Views)
Labels:
Reply
0 Hearts