Fri, 24 Aug 2012 | BUSINESS SALE
Eastman Kodak Co has announced plans to sell off sections of its business as it struggles to raise sufficient funds to avoid bankruptcy.
The photography firm is planning to sell most of its consumer and document imaging business and shift its focus towards commercial printing.
Chief executive Antonio Perez said in a conference call with Reuters and others that the company is already in the midst of auctioning off its digital patent portfolio and hopes to complete sales of this and its consumer sections by the middle of next year.
Mr Perez said: “For ensuring sufficient funding for successful emergence [from bankruptcy], the sale of these businesses is important in that regard.”
He explained that the company needs to raise nearly $700 million (£441 million) to pay back its creditors and safely exit bankruptcy. The patent sale was initially expected to easily cover this, but the auction has been underway for more than two weeks and no deal has yet been reached, prompting the company to explore other options.
Kodak was declared bankrupt in January of this year as it struggle to adapt to the change towards digital imaging and away from printed photographs from film.
Established in 1980, this long-standing electric motor repair business is available for acquisition. With a successful trading history spanning over 40 years under the current proprietorship, the business has become synonymous with excellence in elec...
This is a unique opportunity to purchase 2010 established Porsche partner business, delivering exceptional servicing solutions for classic and modern cars since 2014. Although they mainly service the regions of Suffolk, Essex, Norfolk, Cambridgeshire...
A profitable opportunity has arisen to purchase 2005 established electrical contractor mainly working within the commercial and light industrial sectors of construction and engineering. Work is typically carried out within an 80 mile radius of Bedfor...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.