Jump To Navigation

Eastman Kodak’s Business Bankruptcy Woes Continue

Posted on February 4th, 2014

As Eastman Kodak struggles to handle its obligations under a business bankruptcy filing, the third quarter postings indicate that the losses for the company were $312 million. This is almost $100 million more than the $222 million loss posted for the third quarter of 2011. Part of the reason may come from a 19 percent decline in revenue over last year’s figures.


The company has now released 2,800 workers since January and claims that part of the loss is associated with the costs of eliminating 775 jobs for the quarter. The company filed for bankruptcy in January after severe losses in its digital photo division and increasing competition from Japanese manufacturers.


As part of the bankruptcy, Kodak is attempting to sell its patents for digital imaging but is having trouble finding buyers. The company is considering selling its document imaging divisions in order to meet the terms of its bankruptcy plan and stay alive in some form.


Bankruptcy is not the only option for business facing serious financial difficulties, but there can be benefits to filing a business bankruptcy, especially if the company wants to take advantage of protections offered by the bankruptcy court to shield assets from creditors. Business bankruptcies may give a struggling business time to sell assets and reorganize its financial structure so that it can continue to function. A bankruptcy attorney can explain the options available to a business owner so that he or she can make a good decision about the best way to protect the company’s future.


Source: The Arizona Republic, “Kodak loss widens to $312 mil,” Oct. 31, 2012


Contact Us for a Free Consultation
Office Locations

Phoenix Office One
Wright Law Offices
2999 N. 44th St., Ste 600
Phoenix AZ 85018

Telephone: 480-845-0145 / 866-703-3287
Phoenix Law Office

Phoenix Office Two
Wright Law Offices
668 N. 44th St., Ste 320
Phoenix AZ 85008

Telephone: 480-845-0145 / 866-703-3287
Phoenix Law Office

Scottsdale Office
Wright Law Offices
7135 East Camelback Road, Ste 230
Scottsdale AZ 85251

Telephone: 480-845-0145 / 866-703-3287
Scottsdale Law Office

Tempe Office
Wright Law Offices
2238 S. McClintock Dr.
Tempe AZ 85258

Telephone: 480-845-0145 / 866-703-3287
Tempe Law Office

Avondale Office
Wright Law Offices
12725 W Indian School Rd, Suite E-101
Avondale AZ 85392

Telephone: 623-258-4480 / 866-703-3287
Avondale Law Office

Mesa Office
Wright Law Offices

4856 E. Baseline Rd.
Suite #104
Mesa, AZ 85206
Telephone: 480-845-0145 / 866-703-3287
Mesa Law Office

Glendale Office
Wright Law Offices
20325 N. 51st Ave., Suite 134
Glendale, AZ 85308
Telephone: 623-258-4480 / 866-703-3287
Glendale Law OFfice

Facebook IconTwitter IconVisit Us On Google+Visit Us On Google+