Deals
Kodak Bankruptcy May Shed Photography, Bet on Digital Printing
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As Eastman Kodak Co. investors bet the 131-year-old photographic pioneer was headed for bankruptcy, the company decided Chapter 11 was the simplest way to become the leaner digital printing specialist it aspires to be.
Bankruptcy allows sales of the photography divisions and patents Chief Executive Officer Antonio Perez wants to jettison to pay off legacy employee benefits and creditors, as he focuses Kodak on faster, flexible commercial and consumer digital printers and the company’s superior ink. Its trove of 11,000 patents could fund expansion by allowing the company to sue for more licensing fees -- a move it has pursued more aggressively in recent weeks.