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!
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