A leaner, commercial market focused Kodak to emerge from Chapter 11 bankruptcy

Following round-after-round of reduncdanies, the sale of a patent portfolio, and its exit from the film production business, Kodak's plan for to restructure itself and emerge from Chapter 11 bankruptcy as a leaner company focused on delivering to the commercial imaging markets, for example commercial printing and packaging, has been approved. The U.S. Bankruptcy Court for the Southern District of New York confirmed Kodak’s 'Plan of Reorganization' and commented: 'It will be enormously valuable for the Company to get out of Chapter 11, and begin to regain its position in the pantheon of American business.' Whether or not Kodak will ever be able to regain the standing it once had as a stalwart of the American manufacturing and technology landscape is debatable, but the optimism is charming.

Once the company has finalised some outstanding elements of the reorganisation, which includes settling up with the Kodak Pension Plan in the UK for the sale of its document imaging and personalised imaging businesses, it should be fit to emerge from Chapter 11 on 3 September.