Kodak Bankrupt?

[jaideeguy]

I've been a loyal Kodak consumer and now have 4 kodak cameras from their earliest [that probably has antique value, 1 megapix] but still works good. Never had any issues and I thought that they made the transition from film to digital quite nicely.

Is it true that they are filing for bankruptcy and how will that effect support, upgrades etc to their loyal customers??

[terryq]

I think you'll find that they have filed for bankruptcy protection which isn't the same thing.

They might emerge as a much smaller company concentrating on digital, maybe sell off their film division, for peanuts, although there are still people that use film, even back and white. Also one of the majors players might buy the digital business. Bankruptcy protection gives them time to reorganize without creditors demanding instant payment.

As far as support goes would think there's a few years left. Of course if you really had one of their earliest digital cameras, 1975 at a massive 10,000 pixels then that would be worth something.

[Pib]

Yes, under bankruptcy protection Chap 11....assuming the court approves the Chap 11 filing the company could continue its operations, manufacture, and distribution of products while it re-negotiates its debt with creditors. Many companies come out of bankruptcy protection smaller but with much less debt which allows them to kinda start over again. I've got a couple of Kodak digital cameras myself and they are still working good.

[Sateev]

All bankruptcy is 'protection'. Whether or not you have to liquidate, or have time to negotiate with your creditors depends on the TYPE of bankruptcy, which is in turn decided by your assets. Individuals, depending on jurisdiction, can do the same.

Of course the stigma of individual bankruptcy affects individuals to a much greater extent than it does corporations....right, it's a level playing field. Yeah...

[givenall]

Who?

[Nisa]

Not to worry ... Eastman Kodak is not going anywhere. They will come out of this stronger (hopefully). They simply were not prepared for the digital age of cameras after more than a century being the leader in film.

Did they even need to make money before on their camera sales knowing they would make money from the film to keep those cameras filled for many years? They probably could have given away cameras and still been hugely profitable ... possibly more.

[cdnvic]

This is already running in the photography forum. Please continue it there.

http://www.thaivisa....tection/