Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Full Coverage of Kodak's Bankruptcy and What's Next

Eastman Kodak Company is filing for Chapter 11 bankruptcy.

In a statement, the company said it is planning to reorganize the business in order to "bolster liquidity in the U.S. and abroad, monetize non-strategic intellectual property, fairly resolve legacy liabilities, and enable the Company to focus on its most valuable business lines." 

"Kodak is taking a significant step toward enabling our enterprise to complete its transformation," said Antonio Perez, Chairman and Chief Executive.  "We look forward to working with our stakeholders to emerge a lean, world-class, digital imaging and materials science company."

The statement says Kodak expects to pay employee wages and benefits and continue customer programs.  The statement did not address retiree benefits. Spokesman Christopher Veronda said company officials are have no comment beyond the statement.

Kodak has created a website detailing its reorganization plans.

The company's press release about the bankruptcy filing is on that site.

 

 

 

 

Tags
Related Content