Several news outlets are reporting that Kodak is considering filing for bankruptcy. For many years the iconic photography company has said it is pursuing a downsizing and re-organization strategy, but it has not made a full-year profit since 2004, and doubts that its recovery strategy can succeed have grown.
Last week saw Kodak's share price plummet after it drew unexpectedly on its credit line and then, on Friday, hired a law firm known for its bankruptcy and restructuring practice.
Articles at
The New York Times and
Reuters give an overview of Kodak's current situation, and the
Times article discusses the sources of reports that the company is considering bankruptcy. (On Friday, Sept. 30, a Kodak spokesman said, "As we sit here today, Kodak has no intention of filing for bankruptcy.")
