Information and discussion on all aspects of British photographic history
Kodak to Declare Bankruptcy?
The news doesn't look good for Eastman Kodak. From the Wall Street Journal: Kodak Hires Restructuring Lawyers. Eastman Kodak Co. has hired law firm Jones Day for restructuring advice as it faces growing concerns from investors over its turnaround prospects, people familiar with the matter said.
The move to hire restructuring lawyers signals Kodak is intensifying efforts to ensure it has the financial wherewithal to complete a difficult strategic and financial revamp. Shares in the 131-year-old company have lost around a third of their value this week following Kodak's disclosure that it pulled $160 million from a credit line.
That drawdown heightened concerns about the company's cash flow and triggered downgrades of its credit rating.
Kodak shares plunged Friday afternoon, down 60% in recent trading to 68 cents...
http://online.wsj.com/article/SB10001424052970204138204576603053167...
Business Week carries some more detailed analysis: http://www.businessweek.com/news/2011-10-01/kodak-said-to-weigh-ban...
Views: 127
Add a Comment
-
Comment by Alan Pritchard on October 4, 2011 at 11:45 -
There was a brief report and comment on Radio 4's Today programme this morning (Tuesday 4th) at about 0720. Available for a week at http://www.bbc.co.uk/programmes/b015ck8w#synopsis
© 2013 Created by Michael Pritchard.
Powered by
You need to be a member of British photographic history to add comments!
Join British photographic history