via wsj.com
Eastman Kodak Co. is preparing to seek bankruptcy protection in the coming weeks
A Kodak spokesman said the company "does not comment on market rumor or speculation."
The company, for instance, invented the digital camera—in 1975—but never managed to capitalize on the new technology.
Read more : Kodak Teeters on the Brink
Eastman Kodak Co. is preparing to seek bankruptcy protection in the coming weeks
A Kodak spokesman said the company "does not comment on market rumor or speculation."
The company, for instance, invented the digital camera—in 1975—but never managed to capitalize on the new technology.
Kodak's troubles date back to the 1980s, when the company struggled with foreign competitors that stole its market share in film. The company later had to cope with the rise of digital photography and smartphones.
It wasn't until 10 years ago that the mood began to sour, said Mr. Shanebrook. By 2003, Kodak announced it would stop making investments in film. "I didn't want to stick around for the demise," he said.
Kodak shares closed Wednesday at 47 cents, down 28% after The Wall Street Journal reported the company was preparing a Chapter 11 filing.
Read more : Kodak Teeters on the Brink
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