Say goodbye to Kodak. Kodak has officially filed for Chapter 11 bankruptcy. According to the UK, Fortune 500 , stock for Kodak has plummeted 35% since the start of trading.
Pioneering the early foundation of digital photography Kodak has struggled to evolve with the new digital age.
“Kodak acknowledged, in its Chapter 11 filing, that it had more than 100,000 creditors, with debts totaling $6.75 billion.” Creditors range from Sony, Best Buy, WalMart, Target to Disney. Kodak will continue to operate during the bankruptcy process with its current liquidity, which includes properties in Rochester N.Y., Colorado and Oklahoma.
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