After 131 Years In Business Kodak File For Bankruptcy!
One of the longest running businesses in this country has filed for bankruptcy. Kodak tried hard to avoid going through this but it was unavoidable.
According to MSN.com:
By Kim Peterson, MSN Money
It’s the end of an era for Eastman Kodak. The legendary American company said early Thursday it has filed for Chapter 11 bankruptcy protection, unable to shore up the cash it needs to continue operating. The stock has been delisted from the New York Stock Exchange. Its shares were falling in over-the-counter trading Thursday under the new symbol EKDKQ.
The 131-year-old company had been trying desperately to sell its huge collection of digital-imaging patents, saying it needed the money to survive. The company’s future essentially hinged on that sale. If it didn’t come through — and it looks like it didn’t — bankruptcy was all but assured.
So does this mean that all Kodak products will go on a clearance sale? If so? I’m ready to go buy something!
More story on JAMZ:
- Listen to this Amazing Drake/Danzig Mash-Up
- Kesha’s Mom Calls Out Silent Artists
- Justin Bieber & Floyd Mayweather do Karaoke, Just Like You
- Tupac ‘Thug Life’ Letter Up for Auction
- Austin Mahone Pranks Fans at Madame Tussauds Orlando
- Will Smith Has 30 New Songs, Will Tour in the Summertime
- Kendrick Lamar Announces ‘Kunta’s Groove Sessions’ Tour
- Gigi Hadid Opens Up about Taylor Swift, #SquadGoals
- Here Are Snacks Every Sleep Deprived College Kid Should Be Making
- Amber Rose Forgives Kanye West and Wiz Khalifa in Emotional ‘Slut Walk’ Speech