Kodak filed for bankruptcy

Actually, this was to be expected - the problems of Kodak, once the largest producer of photographic goods, led to general bankruptcy. Recently, representatives of Kodak filed bankruptcy documents in court. I must say that things at Kodak were getting worse and worse, the agony lasted for many years, and it looks like it was over. At the moment, the company's debts are huge - about 6.8 billion dollars. The company itself is estimated at about $ 5.1 billion, so even after the full sale of assets, the debt will be almost two billion.

Experts believe that the main problem of the company was and is the inability to adapt to new conditions, to the "figure" and modern technologies. Yes, once Kodak was considered a leader in its field, and even a digital camera was first created in the depths of the company. But it was the number that led to the death of the corporation - digital photographic equipment began to crowd out the film, and Kodak did not have time to adapt. Problems with Kodak began at the very beginning of the century, when digital photographic equipment first began to appear.
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In 2004, the company stopped selling film cameras, and later stopped selling film as well, because demand for it fell very much. It is worth noting that in 1997, the company's shares were worth as much as $ 92 apiece. Currently, the value of one share is about 55 cents. In 2011, Kodak shares fell immediately by 91%, and already this year, on January 4, the company's shares fell immediately by 28%, after news of the possible bankruptcy of the company appeared.

Now the Kodak board of directors is making efforts to save his creation. It is possible that patents will be sold, at once over a thousand, in order to receive funds with which it will be possible to pay off debts, at least in part. Tomorrow the board of directors of the company will be assembled to discuss the current situation and the appointment of a manager who may be able to bring Kodak out of the crisis.

Via reuters