Kodak plans 3Q bankruptcy emergence
Posted on: 08:25 PM IST May 01, 2013
New York: Eastman Kodak says it expects to emerge from bankruptcy protection between July and September. Many of the storied businesses associated with the Kodak name will be gone.
It will no longer make cameras, home computer printers, or digital picture frames. It will mostly be out of the consumer film business, providing only supplies and services to the new owners of that business.
The reorganization plan filed late on Tuesday says the new Kodak will focus on commercial imaging and printing. It says it should be able to make money by supplying the electronics, chemicals, and printing surfaces used for commercial and graphics customers.
It also plans to provide professional services to commercial and digital printing markets. Old shares of Eastman Kodak Co will be canceled, which is typical in bankruptcy cases.
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