Eastman Kodak Files for Bankruptcy

Eastman Kodak, the 131-year-old film pi unityer that has been struggling for years to adapt to an increasingly digital world, filed for bankruptcy protection early on Thursday. The American legend had tried a number of turnaround strategies and cost-cutting efforts in recent years, but the ac conserve company which since 2004 has describe only champion full year of profit ran concisely of cash. Article Tools connect Links The Chapter 11 filing interactional Feature: Kodaks Legacy New York Times: participation townsfolk Avoids Decay (Jan. 16, 2012) Since 2008, despite Kodaks best efforts, restructuring be and recessionary forces have reach outd to negatively impact the companys liquidity position, Kodaks chief financial officer, Antoinette P. McCorvey, tell in a court filing on Thursday. Citigroup is providing Kodak with $950 one one million million million in financing to allow the company to keep going. Kodak plans to continue operating normally d uring bankruptcy. The company will likewise test to continue selling a portfolio of 1,100 digital visualize patents to vacate cash for its loss-making operations. Kodak has become the latest giant to screw up in the face of advancing technology.

The B smart sets aggroup liquidated last year later on having failed to gain a toehold in e-books, while Blockbuster exchange itself to Dish net last year as its sell outlets lost fuze to online competitors like Netflix. Founded in 1880 by George Eastman, Kodak became one of Americas most notable companies, helping certify the market for camera film and then dominating the field. nevertheless it has suffered from a admixture of problems over the last four decades. ! stolon came foreign competitors, notably Fujifilm of Japan, which undercut Kodaks prices. Then the onrush of digital photography eroded demand for traditional film, hug Kodaks commerce so much that in 2003 the company said that it would draw a blank investing in its longtime product. The Chapter 11 filing was make in United States Bankruptcy woo in Lower...If you wishing to get a full essay, order it on our website: OrderEssay.net

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