Kodak Nears Bankruptcy
Film giant's move to printers has stalled
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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