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#1058553 - 19/01/2012 21:44 Kodak files for bankruptcy
teckert Offline
Weatherzone Moderator

Registered: 27/05/2001
Posts: 17706
Loc: NE suburbs, Adelaide, South Au...

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#1060490 - 23/01/2012 14:08 Re: Kodak files for bankruptcy [Re: teckert]
Willraja Offline
Weather Freak

Registered: 06/03/2009
Posts: 156
Loc: Jubilee Heights
Its a section 8 bankruptcy, apparently means they can pretty much still trade as normal. Under this provision they are allowed to make major restructuring to the business including staff layoff and assest selling without creditors getting involved or forcing liquidation. Fuji apparently did this some years back, its not a nail in the coffin. Rumors are they will be moving completely away from film and cameras at least for consumers and focussing more on professional imaging areas such as medical and technical fields and maybe continue development and sale of paper and printers to general public. Kodak developed the first(or at least one of the first) digital cameras back in the 1975 but never ran with it, having such a strong lead in the film and negative industry, this does mean though they have alot of Intellectual Property and International Patents worth some serious in on going royalties and sales. Kodak will most likely be here for some time yet.
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