Kodak prepares for Chapter 11 bankruptcy protection filing

Kodak prepares for Chapter 11 bankruptcy protection filing

Consumer Reports News: January 05, 2012 11:53 AM

Find Ratings

Kodak is reportedly in talks to secure approximately $1 billion in financing in order to sustain the company through bankruptcy proceedings, and also still trying to sell patents to hold off a bankruptcy filing, according to the Wall Street Journal.

If it goes forward, the Chapter 11 bankruptcy protection filing could occur as early as this month or next. If it does, Kodak's more than 1,000 digital-image patents could be sold through a bankruptcy auction supervised by a court.

In the past decade or so, the 131-year-old company lost more than 95 percent of its value, according to NPR, which points out that the company was throttled by both foreign competitors, as well as the digital revolution. In 1975, Kodak built the first digital camera. In more recent history, Kodak has focused on consumer photo printers and commercial inkjet presses.

Kodak Teeters on the Brink [Wall Street Journal]
Kodak prepares for Chapter 11 filing: report [Reuters]
Report: Kodak May File For Bankruptcy [NPR] We Had No Idea [Plugged In]

Maggie Shader

Find Ratings

Digital cameras Ratings

View and compare all Digital cameras ratings.

E-mail Newsletters

FREE e-mail Newsletters! Choose from cars, safety, health, and more!
Already signed-up?
Manage your newsletters here too.

Money News


and safety with
subscribers and fans

Follow us on:


Cars Build & Buy Car Buying Service
Save thousands off MSRP with upfront dealer pricing information and a transparent car buying experience.

See your savings


Mobile Get Ratings on the go and compare
while you shop

Learn more