Manufacturer cameras Kodak filed for bankruptcy

Manufacturer cameras Kodak filed for bankruptcyManufacturer cameras Eastman Kodak filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code. According to Reuters, the company also announced a loan of $ 950 million from Citigroup for 18 months, which should help keep the Kodak business.

According to Chairman of the Board of Directors of Antonio Perez (Antonio Perez), management and shareholders camera makers believe that the interim bankruptcy is an effective measure to save Kodak and its subsequent return to profitability.

The Wall Street Journal, citing its own sources said that Kodak plans to sell more than 1.1 thousand of its patents for goods to repay Citigroup and other debt. On Friday, January 20 to discuss the company's board nominees interim manager, which should bring Kodak out of bankruptcy.

The fact that the camera manufacturer intends to file for bankruptcy, the media reported in early January. Under the protection of Chapter 11 of the company will be able to work and fulfill their obligations to customers.

Kodak For several years, remains unprofitable, because of which the company's shares on the Stock Exchange cheaper. Over the past year they have fallen in price by more than 91 percent, and January 4 at once collapsed by 28 percent. This happened after the press got the information about the alleged bankruptcy of Kodak.

Its maximum (over $ 92) securities companies reached in 1997. Kodak is now one share is estimated at 55 cents. On the day before the announcement of the bankruptcy of a company's securities rose 4.4 percent.

Eastman Kodak Company (NYSE: EK) U.S. company, a world-renowned manufacturer of photographic equipment, and photographic and cinematographic goods. Headquartered in Rochester, New York (USA). The company was founded in 1881 by inventor George Eastman (George Eastman) and businessman Henry Strong (Henry Strong).

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