File this under "news we all saw coming": imaging legend Eastman Kodak Co. today started Chapter 11 bankruptcy proceedings. For months, Kodak has been trying to increase its cash on hand by selling off a large chunk of its patent portfolio, but the company had yet to find a buyer for the property. As it now enters bankruptcy, Kodak announced that it has obtained about US$950 million in debtor-in-possession financing from Citigroup, although the court must now approve terms of this credit facility. With Kodak unable to raise funds or cut costs to a sufficient degree, the impending... (read more)
This page contains a snippet of article „Kodak files bankruptcy, secures financing“. The article was originally published on Imaging Resource at http://www.imaging-resource.com/news/2012/01/19/kodak-files-bankruptcy-secures-financing. ShutterNews.com isn't responsible for the article's content.
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Thu, 2012-01-19 09:25