Skip to main content

Kodak to file for chapter 11 bankruptcy

Eastman had made photography popular in the United States in 1888 with the slogan "you press the button, we do the rest". In 1900, his 'Brownie' camera made it really affordable. Australia Kodak Limited, a joint venture with the two Australians, later became Kodak (Australasia) Ltd. It was an early expression of the Australian love of new technology.

 

The Chapter 11 filing could come as soon as this month or early February, the newspaper said.

 

 

Despite having made Huge sacrifices to make the company “competitive” and profitable, 600 production workers will be shunted out of their jobs in November. More jobs will go when the company’s wholesale photo processing lab shuts on October 22, with services being outsourced to another company.

 

The closure of the Coburg plant concludes almost two decades of ruthless restructuring, during which both management and the unions assured workers that if they allowed downsizing and cuts to working conditions. Eastman Kodak (EK.N) is preparing a Chapter 11 bankruptcy protection filing in case it is unable to sell its digital patents to raise capital.

 

Kodak warned in November that it might not survive 2012 if it was unable to secure $500 million in new debt or sell its patents. The company's cash had been shrinking as sales of its consumer products have failed to keep up with its heavy cost base.

 

kodak-chapter-11-bankruptcy blog online website

 

At Kodak, executives had hoped that emerging markets such as China would give them more time to wind back the film and photographic-paper business as Americans switched to digital cameras. Instead, buyers in new markets skipped over film and went straight to digital

Comments

  1. I just take a peek and I discovered your post. I appreciated the efforts you've did in this post. Hope everything fall in its proper places. Big thanks and keep sharing.


    real estate in Philippines

    ReplyDelete
  2. Nice and useful blog.I am very impressed from your blog.I will share your blog with my friends .Thanks for sharing and keep it up.
    Car Loans London

    ReplyDelete

Post a Comment

Popular posts from this blog

Ruth Tarvydas to close the doors

Perth designer Ruth Tarvydas will close the doors of her King Street shop next week and appoint an administrator. The company plans on appointing an administrator to allow the company time to deal with creditors and maintain business relations with any owed parties. Tarvydas | Facebook www.facebook.com/ Tarvydas .fanpage http://www.ruthtarvydas.com/   A statement from the company said "regrettably Tarvydas will be leaving King St in 7 days." The label said they would continue to produce collections.   Tarvydas joins a range of iconic retailers, including Wasteland and Subway DC, which have all closed up shop in the last month

Current Bankruptcy , Insolvency Appointments

Corporate insolvency appointments in relation to companies registered in NSW, VIC, QLD, SA, WA, ACT, NT & TAS. Liquidation normally occurs when a company has failed and creditors resolve that it be wound up. List of bankruptcy , insolvency appointments 30 Nov Vanarden Pty Ltd Creditors' Meeting for Voluntary Creditors' Liquidations, QLD 30 Nov SMK Enterprises (Aust) Pty Ltd t/as Pet Cafe Cleveland Creditors' Meeting for Voluntary Creditors' Liquidations, QLD 30 Nov TSA Corporation Pty Ltd Creditors' Meeting for Voluntary Creditors' Liquidations, WA 30 Nov ACN 007 093 245 Pty Ltd formerly k/as Croydon Auto Electrical Services Pty Ltd Creditors' Meeting for Voluntary Creditors' Liquidations, VIC 30 Nov Hanlay Industrial Group Pty Ltd Creditors' Meeting for Voluntary Creditors' Liquidations, VIC 30 Nov S & K Contracting Pty Ltd Creditors' Meeting for Voluntary Creditors' Liquidations, NSW 30 Nov Zalma

Fashion chain Lisa Ho in Australia in administration

Who is Lisa ho ? Lisa Ho is an Australian fashion designer born in Albury, on the New South Wales and Victorian border. She is married to Philip Smouha. Wikipedia   Lisa Ho Designs is the latest Australian retailer to fall in financial trouble , with the high end fashion chain placed into administration last week.     Dressed in a black outfit, a stony-faced Ms Ho faced creditors yesterday for the first time since the business that she founded 30 years ago was placed into administration earlier this month. It is understood she did not address the creditors.   Administrators appointed for fashion house   Financial firm HLB Mann Judd has confirmed it was appointed as administrator of the high-end fashion chain last Wednesday. The administrator will sift through the company’s assets  and liabilities and look for a suitable buyer. A creditors’ meeting is scheduled for May 20, and in the meantime all 10 stores will reportedly continue to trade.   The