Reinvented Kodak returns to NYSE
- 11 years ago
Shares of Eastman Kodak are being traded again on the New York Stock Exchange.
The photography pioneer invented the digital camera, but failed to adapt fast enough to the digital age. With everyone taking snaps with their mobile phones hardly anyone was buying film.
The company also had huge pension fund liabilities.
As a result it was forced to file for bankruptcy protection from its creditors at the start of 2012, with debts of $6.75 billion.
Since then – in a lengthy and complicated process – it has sold assets, paid off its lenders in full and attracted new investors to reemerge as a smaller company focused on digital imaging services for packaging, graphic communications and printing.
NYSE Euronext welcomed Kodak’s relisting which helps it emphasise its progress in attracting technology firms.
The photography pioneer invented the digital camera, but failed to adapt fast enough to the digital age. With everyone taking snaps with their mobile phones hardly anyone was buying film.
The company also had huge pension fund liabilities.
As a result it was forced to file for bankruptcy protection from its creditors at the start of 2012, with debts of $6.75 billion.
Since then – in a lengthy and complicated process – it has sold assets, paid off its lenders in full and attracted new investors to reemerge as a smaller company focused on digital imaging services for packaging, graphic communications and printing.
NYSE Euronext welcomed Kodak’s relisting which helps it emphasise its progress in attracting technology firms.