Negative news for Kodak over bankruptcy fears
Stephen Foley is a former Associate Business Editor of The Independent, based in New York. He left in August 2012. In a decade at the paper, he covered personal finance, the UK stock market and the pharmaceuticals industry, and had also been the Business section's share tipster. Between arriving with three suitcases in Manhattan in January 2006 and his departure, he witnessed and reported on a great economic boom turning spectacularly to bust. In March 2009, he was named Business and Finance Journalist of the Year at the British Press Awards.
Friday 04 November 2011
Eastman Kodak is heading deeper into the red and will draw on more of its cash reserves than previously expected, raising the possibility it could plunge into bankruptcy.
The 131-year-old US camera and film company is pinning its hopes on the sale of 1,100 technology patents it has filed over the years and has appointed restructuring experts to advise on its options.
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