Eastman Kodak has gained court
approval to come out of bankruptcy as a much smaller digital imaging
company.
The company, once the biggest name in photography, had planned to come out of
bankruptcy in July.
Eastman Kodak was founded in New York more than 100 years ago and pioneered
the use of film in cameras.
US bankruptcy judge Allan Gropper agreed to the company's plans, meaning it
should be back trading in about two weeks.
Eastman Kodak Co. filed for bankruptcy protection last year, pushed out of
business by the emergence of digital photography which killed off mass demand
for film.
Since then, the company has sold off a number of its business and patents. It
now plans to specialise in printing.
Sourced from BBC News.
approval to come out of bankruptcy as a much smaller digital imaging
company.
The company, once the biggest name in photography, had planned to come out of
bankruptcy in July.
Eastman Kodak was founded in New York more than 100 years ago and pioneered
the use of film in cameras.
US bankruptcy judge Allan Gropper agreed to the company's plans, meaning it
should be back trading in about two weeks.
Eastman Kodak Co. filed for bankruptcy protection last year, pushed out of
business by the emergence of digital photography which killed off mass demand
for film.
Since then, the company has sold off a number of its business and patents. It
now plans to specialise in printing.
Sourced from BBC News.
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