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Bankrupt Kodak wants to give $13.5M in bonuses

Eastman Kodak Co. has filed a request with the district court overseeing its Chapter 11 bankruptcy asking for permission to pay around $13.5 million in bonuses to approximately 300 employees.

Senh: As long as they go to the employees and not the executives.

 

Eastman Kodak Files For Bankruptcy After Years Of Falling Sales

Kodak Bankruptcy

Eastman Kodak Co filed for bankruptcy on Thursday in a bid to survive a liquidity crisis after years of falling sales related to the decline of its namesake film business. The once-iconic photographic film pioneer, which had tried to restructure to become a seller of consumer products like cameras, said it had also obtained a $950 million, 18-month credit facility from Citigroup to keep it going.

 

Kodak prepares for Chapter 11 filing: report

Kodak

Eastman Kodak is preparing a Chapter 11 bankruptcy protection filing in case it is unable to sell its digital patents to raise capital, The Wall Street Journal reported on Wednesday. The once-iconic photographic film pioneer is in talks with potential lenders to secure about $1 billion in debtor-in possession financing to sustain Kodak through bankruptcy proceedings, the Journal reported, citing unidentified sources.

Senh: The irony: Kodak invented the digital camera as early as 1975, but couldn't capitalize on it. Now, they're playing catch-up with rivals selling digital cameras.

 

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