Kodak filed for bankruptcy



    Actually, this was to be expected - the problems of Kodak, once the largest manufacturer of photo products, led to general bankruptcy. The other day, Kodak representatives filed for bankruptcy in court. I must say that Kodak’s affairs were getting worse and worse, the agony lasted for many years, and it seems that it was over. At the moment, the company's debts are huge - about 6.8 billion dollars. The company itself is valued at about $ 5.1 billion, so even after a full sale of assets, the debt will be nearly two billion.

    Experts believe that the main problem of the company was and is its inability to adapt to new conditions, to the “digital” and modern technologies. Yes, Kodak was once considered a leader in its field, and even a digital camera was first created in the bowels of the company. But it was precisely the number that led to the death of the corporation - digital photographic equipment began to supplant film technology, and Kodak did not have time to adapt. Kodak's problems began at the very beginning of the century, when digital photographic equipment first began to emerge.

    In 2004, the company stopped selling film cameras, and a little later it stopped selling film as well, because demand for it fell very much. It is worth noting that in 1997 the company's shares were worth as much as 92 dollars apiece. Currently, the value of one share is about 55 cents. In 2011, Kodak shares fell immediately by 91%, and this year, January 4, the company's shares fell immediately by 28%, after news of a possible bankruptcy of the company appeared.

    Kodak's board of directors is currently making efforts to save his brainchild. Perhaps patents will be sold, more than a thousand at once, to receive funds that can be used to pay off debts, at least in part. Tomorrow, a board of directors will be convened to discuss the current situation and appoint a manager who may possibly get Kodak out of the crisis.

    Via reuters

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