Kodak Files For Bankruptcy
Another iconic American brand is navigating troubled financial waters as Kodak has filed Chapter 11 bankruptcy. Despite $4 billion in annual sales, Kodak is struggling with legacy costs and low-cost digital competition. For many decades Kodak was THE name for film and photographic paper. Chances are good that you have some old snapshots in an album at home on Kodak paper.
Many industry experts are not optimistic about Kodak's chances to emerge successfully from bankruptcy. Many had the same feelings about General Motors just a few years ago. Time will tell how this picture develops.