Last year, Kodak filed bankruptcy protection. However, Kodak's trip through bankruptcy had finally come to an end. This was after the company completed its restructuring plan and had exited bankruptcy. This was according to a statement issued by Kodak last Tuesday.
According to Kodak, the company has now become a commercial imaging company. Kodak would serve business markets that included packaging and graphics. Kodak's Chairman and Chief Executive Officer Antonio Perez said that company had gone back on track for profitable growth.
The company filed for bankruptcy last year after it was brought down by increasing competition. It was also because of the increased popularity of the digital photography that left most people shift from analog to digital photos. Kodak also incurred debt which triggered the filing of bankruptcy protection.
Since then, Kodak had sold off many of its businesses and patents. It also closed the manufacturing unit of the company that made it famous. As of Tuesday, the old stocks of Kodak were cancelled and that creditors would get shares in the reorganized company.
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