American company Eastman Kodak on the brink of bankruptcy – by Lauren Magasdi – Lawyer
American photography company Eastman Kodak (“Kodak”) has filed for Chapter 11 Bankruptcy Protection in America last month, in a move to reorganise and raise much needed ‘cash’ to get it out of its significant debt.
The company, who had hoped to make billions from a digital patent, were unable to sustain the growth of modern technology at the same time.
The good news for Kodak Australia – it is business as usual.
Chairman and chief executive of Kodak, Mr Antonio M Perez, said in an interview this week with the Wall Street Journal, “the bankruptcy protection would enable Kodak to continue to work to maximise the value of its technology assets, such as digital-imaging patents it licences for use in mobile and other devices and its printing technology”.
Of recent times, the photographer giant has been pushing the company more in the direction of printers, rather than the digital camera, which it allegedly invented.
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