Kodak needs $700 million to exit bankruptcy

Kodak entered bankruptcy in January hoping to restructure its significant debt load to allow the company to continue operations.  Part of its plan, the auction of its digital patent portfolio, is not raising the funds needed to pay creditors and emerge from bankruptcy.

Therefore, Kodak is planning to sell its consumer and document imaging businesses to raise the funds needed to pay its creditors.  By selling off these sections of the company, Kodak will become more focused on the commercial aspects of the industry rather than consumer oriented products.

For more information on the pending sale, you can read the full article at “Kodak to sell retail print, document imaging businesses.”

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