Rumors are circulating the Internet today that Eastman Kodak are looking at bankruptcy as an option, and are looking at other ways to increase its turnover. These rumors are incorrect, and yesterday Eastman Kodak confirmed this in a release that stated they had “no intention to file for bankruptcy”.
Although we have seen certain analysts point out that the time to correct the money problems is running out, and as this time shrinks the amount of options available to Kodak reduces as well. This article points out that they are looking to sell over 1,100 patents, which could apparently bring in as much as $3 billion for an IP sale, although some advisors point to the possibility that money could run out early next year.
The funny thing about change is it creeps up on us with little signs that could be classed as pebbles, and if you don’t adapt with the changes then you will be hit with rocks and eventually boulders that wipe you out. It seems that Eastman Kodak has been given these signs, but failed to change in time and is now faced with massive choices.
NY Times raises a good point by saying that certain analysts wonder if some bidders for Kodak’s patent auction may be a little hesitant, which may lead to these patent sales being fraudulent if bankruptcy were to happen. While we’re not sure of the facts with this outcome, you can read more in this article.
You can read the statement from Eastman Kodak Company (NYSE:EK) on the official website here, which explains their current situation and denial of the rumors circulating.