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Eastman Kodak Company’s bankruptcy filing is finally coming to an end but it leaves the company having to sell pieces of their corporation off, as reported in an August 23rd, 2012 Reuters online article.
Kodak announced in late August that they plan to sell a majority of their consumer imaging business to pay down their liabilities, which is estimated to be around $700 million. With the loss of their consumer imaging business, Kodak will focus primarily on commercial printing.
Kodak’s financial struggles began when they were unable to make the mainstream shift to digital imaging. The company was forced to file for bankruptcy in January 2012 and is hoping to be running successfully by mid-2013.
We, at the law offices of Jayson Lutzky, P.C. (www.BankruptcyNYC.com) are here to help you. We stay current on the latest developments in bankruptcy and care about each and every client. It is important to hire a qualified attorney if you are considering bankruptcy, one that will explain each step of the process to you. For a free consultation, call us today: (800) 660-LAWYER or (800) 660-5299.