Hasta la vista, Kodak?
Kodak Logo
Is the end of Kodak near ? Today the Eastman Kodak Co. has filed for Chapter 11. This is a special category of bankruptcy in the USA, which allows the company to reorganize finances to keep the business afloat. Since the digital technologies arrived, Kodak has been struggling on keeping its leadership in the market. In the last years, Kodak has reduced in a 73% the number of workers and closed an important number of factories. The need of a reorganization is more than necessary and it’s the only way to reassure a prosper future for this important company. The bankruptcy is subject to the court process, and the results could take months or even years. Meanwhile the company asked for a credit of $950 million dollars to continue their operation. Kodak has also declared that all the workers would be properly pensioned if any problem occurs. For the costumers there won’t be any notable changes. Kodak hopes that this action leads the company to a new beginning and hopefully gets back the position they once had in the market. Its not a goodbye, its just a hasta la vista.
article by Fatima Castellanos and Javier Rodriguez
More on Kodak in our blog: