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Kodak under protection of U.S. bankruptcy law
posted on: Jan 19 2012 12:41 by RDugey. Viewed 19 times.
The photographic company Eastman Kodak announced Thursday in a statement that has been under the protection of the American law of bankruptcies, like its North American subsidiaries.
The company, which has negotiated credits for 950 million dollars with the Citigroup Bank, "believes it has sufficient liquidity to operate its activity under Chapter 11 (bankruptcy laws), and provide products and services to its clients as usually", States the communiqué.
Subsidiaries of the group outside United States are not included in the demand for implementation under Chapter 11, which was presented at a court in New York, said Kodak.
Headquartered in Rochester, State of New York, the firm, more than Centennial and to be emblematic of American, capitalism not ceased to decline since the advent of technology digital.
Since 2003, Kodak has closed 13 factories and 130 laboratories and has cut 47,000 jobs, recalled Antonio u000aPerez, Chairman of the Group quoted in the statement.
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