Kodak denies it plans to file for bankruptcy protection

Gerald · 10-02-11, 01:21 PM

Eastman Kodak has said it has "no intention of filing for bankruptcy".

The struggling US camera and printing group's comments came after it confirmed it had hired a law firm well-known for handling bankruptcy protection cases, Jones Day.

Kodak said it was "not unusual for a company in transformation to explore all options".

Shares in the firm fell 54% on Friday as fears persist about its future. It has not made a profit since 2007.

Kodak, synonymous with film photography for more than 100 years, has struggled to adapt to the digital age.

Last week it announced plans to borrow $160m (£103m) for "general corporate purposes".

Kodak is now continuing to explore a sale of its digital imaging patents, worth an estimated $2bn.

Mark Kaufman, an analyst at Rafferty Capital Markets, said: "I don't believe bankruptcy is inevitable.

"This is a pretty valuable portfolio, they should get a good price.

http://www.bbc.co.uk/news/business-15141421

Note: 2 October 2011 Last updated at 10:09 GMT

Jimbuna · 10-02-11, 01:28 PM

Well I certainly hope not because I've a good friend who works for them here in the UK

vienna · 10-02-11, 02:12 PM

Pictures or it didn't happen...

kraznyi_oktjabr · 10-02-11, 02:31 PM

Quote:

Originally Posted by vienna

Pictures or it didn't happen...

Pun intended?

Jimbuna · 10-02-11, 02:48 PM

LOL...nice one

10-02-11, 01:21 PM	#1
Gerald SUBSIM Newsman Join Date: May 2008 Location: Close to sea Posts: 24,254 Downloads: 553 Uploads: 0	Kodak denies it plans to file for bankruptcy protection Eastman Kodak has said it has "no intention of filing for bankruptcy". The struggling US camera and printing group's comments came after it confirmed it had hired a law firm well-known for handling bankruptcy protection cases, Jones Day. Kodak said it was "not unusual for a company in transformation to explore all options". Shares in the firm fell 54% on Friday as fears persist about its future. It has not made a profit since 2007. Kodak, synonymous with film photography for more than 100 years, has struggled to adapt to the digital age. Last week it announced plans to borrow $160m (£103m) for "general corporate purposes". Kodak is now continuing to explore a sale of its digital imaging patents, worth an estimated $2bn. Mark Kaufman, an analyst at Rafferty Capital Markets, said: "I don't believe bankruptcy is inevitable. "This is a pretty valuable portfolio, they should get a good price. http://www.bbc.co.uk/news/business-15141421 Note: 2 October 2011 Last updated at 10:09 GMT __________________ Nothing in life is to be feard,it is only to be understood. Marie Curie

10-02-11, 01:28 PM	#2
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 190,539 Downloads: 63 Uploads: 13	Well I certainly hope not because I've a good friend who works for them here in the UK __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!!

10-02-11, 02:48 PM	#5
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 190,539 Downloads: 63 Uploads: 13	LOL...nice one __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!!

10-02-11, 02:12 PM	#3
vienna Navy Seal Join Date: Jun 2005 Location: Anywhere but the here & now... Posts: 7,711 Downloads: 85 Uploads: 0	Pictures or it didn't happen...