Kodak is not dead, they only filed chapter 11 bankruptcy. Chapter 11 bankruptcy allows for the restructuring of the business to make if profitable again. A look at three major bankruptcies — Continental Airlines, Kmart and Fruit of the Loom — shows that outcomes can vary widely. Citicorp Group just gave Kodak $950 million. Sounds like Kodak will be around for a while longer and that Citicorp is pretty sure they are going to get their money back with interest.
Also, not only is there still a significant portion of photographers still using film in their daily workflows, but quite a few professionals are actually switching back to film and leaving digital. Kodak has introduced several new film stocks over the past year that have been well accepted among the photographer's still shooting film. The film division is still doing quite well, and is still producing a profit. In fact, the film division reported a 20% increase in sales last quarter.
Kodak will look much different in the years to come, but I wouldn't give up on Kodak yet.
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Kodak is not dead, they only filed chapter 11 bankruptcy. Chapter 11 bankruptcy allows for the restructuring of the business to make if profitable again. A look at three major bankruptcies — Continental Airlines, Kmart and Fruit of the Loom — shows that outcomes can vary widely. Citicorp Group just gave Kodak $950 million. Sounds like Kodak will be around for a while longer and that Citicorp is pretty sure they are going to get their money back with interest.
Also, not only is there still a significant portion of photographers still using film in their daily workflows, but quite a few professionals are actually switching back to film and leaving digital. Kodak has introduced several new film stocks over the past year that have been well accepted among the photographer's still shooting film. The film division is still doing quite well, and is still producing a profit. In fact, the film division reported a 20% increase in sales last quarter.
Kodak will look much different in the years to come, but I wouldn't give up on Kodak yet.