According to The Denver Post, Eastman Kodak Co. announced recently that it will stop making digital cameras, pocket video cameras and digital picture frames. The 132 year old company will continue to produce disposable cameras, however. The company went under bankruptcy protection from creditors last month in a case that involves $6.7 billion in debt. The New York-based company has struggled in recent years due to the failure to keep up with Japanese competitors in the shift from film to digital technology. Kodak has a year to develop a restructure plan for the company’s future. The company still has investors and a firm hope for their home photo printers, high-speed commercial inkjet printers, and workflow software and packaging as their main products.
Have you been considering bankruptcy as an option to reorganize your business? Contact a Colorado bankruptcy lawyer to further discuss your legal options.
In the past few years, a large number of companies have filed for bankruptcy in order to reorganize, in hopes of saving their businesses. Many people believe that filing for bankruptcy is what a company does as they go out of business. However, many businesses are very successful at using Chapter 11 bankruptcy as a tool for financial reorganization in order to keep their business going
If your business is struggling and you are considering bankruptcy as an option then you need to contact a dedicated Parker bankruptcy attorney. Whether it is for business or personal finances, filing for bankruptcy may be the best option. Understanding your options and filing for bankruptcy is a difficult and often a confusing process. Let the experience of a professional bankruptcy lawyer help you make your decision less stressful. For more information and a FREE CONSULTATION, contact attorney Brian Daniel at (303)951-0233.