The Eastman Kodak Company, once the world's largest seller of camera film, is preparing to file for Chapter 11 Bankruptcy, according to news reports. The filing would allow Kodak to restructure and continue operating but could mean layoffs for some of the company's 19,000 employees, most of whom are based in Rochester, New York. The news also raises questions about the success of CEO Antonio Perez's strategy to position the company as a seller of printers. Kodak, which was founded in 1892, has struggled since the 1990s when competitors and the digital camera eroded its profit margins in the film market.
Read more at The Wall Street Journal
Support Outside Online
Our mission to inspire readers to get outside has never been more critical. In recent years, Outside Online has reported on groundbreaking research linking time in nature to improved mental and physical health, and we’ve kept you informed about the unprecedented threats to America’s public lands. Our rigorous coverage helps spark important debates about wellness and travel and adventure, and it provides readers an accessible gateway to new outdoor passions. Time outside is essential—and we can help you make the most of it. Making a financial contribution to Outside Online only takes a few minutes and will ensure we can continue supplying the trailblazing, informative journalism that readers like you depend on. We hope you’ll support us. Thank you.