Kodak has in the U.S., a so-called Chapter 11 filing claimed, a kind of suspension of payment. This means that the company with considerable debt suffers and is going to reorganize its head above water.
It had been clear that Kodak’s heavy weather arrived, but now the company has in the United States is granted a moratorium of payment requested. The activities of the group to walk simply by, and the salaries of weknemers would be cashed out can continue to be. This would be a credit of 950 million dollars of Citigroup available. Kodak gives more information about the impact of the step on the Kodak Transforms.
In 2013, the reorganization is a fact. Kodak is meanwhile trying its intellectual property to leverage. From the filing of the Chapter 11 status it appears that Kodak on september 30, 2011 with a debt of 6.75 billion dollars. Among other things it would be Nokia 12 million dollars owed for unpaid royalties.
Kodak has in recent years been some restructuring behind the back, under the other business units were divested, 13 production facilities of the hand were done and the workforce was reduced with 47.000 employees. Eastman Kodak was founded in 1892 and currently has around 19,000 employees. The company was great with films, but I couldn’t do it to be successful in other markets after the advent of digital photography.