Is Kodak going to go out of business?
Hello! Here is an interesting bankruptcy question with some good answers.
Since they filed Chapter 11, does that mean they are on their way out or is it a temporary glitch? I was going to get a Kodak camera for my boyfriend for his birthday but if they end up going out of business, he may not be able to get supplies or parts in the future for the camera so I don’t know if I should get that camera or not.
Yahoo Answers always has very good bankruptcy questions. Hopefully this one has benefitted you.
Have a nice day!
Tags: bankruptcy
November 30th, -0001 at 12:00 am
Chapter 11 is a re-organization while Chapter 7 is a liquidation of assets. So, basically Kodak should be around though it might not be in its current form. Generally, the stock holders will get little or nothing for their equity shares, the bondholder of the firm usually get stock instead of their debt instruments. The firm, itself might sell off some assets to other companies or may actually be sold in its entirety. A bankruptcy trustee will have to decide what is best for the firm.
But enough about the technical stuff. If you like the camera and you think that he’ll like it, maybe you should just buy it and hope for the best. You can usually find supplies on the internet for things even if they haven’t been manufactured for years. EBay and Shopzilla to name a few. Also, keep in mind that even with firms that are not in bankruptcy, there is no guarantee that they will manufacture parts 2 years down the road. Worst case, he ends up with one of the last cameras manufactured by Kodak – which will no doubt be collectible someday.
I hope this helps with your decision!
November 30th, -0001 at 12:00 am
Chapter 11 is a re-organization while Chapter 7 is a liquidation of assets. So, basically Kodak should be around though it might not be in its current form. Generally, the stock holders will get little or nothing for their equity shares, the bondholder of the firm usually get stock instead of their debt instruments. The firm, itself might sell off some assets to other companies or may actually be sold in its entirety. A bankruptcy trustee will have to decide what is best for the firm.
But enough about the technical stuff. If you like the camera and you think that he’ll like it, maybe you should just buy it and hope for the best. You can usually find supplies on the internet for things even if they haven’t been manufactured for years. EBay and Shopzilla to name a few. Also, keep in mind that even with firms that are not in bankruptcy, there is no guarantee that they will manufacture parts 2 years down the road. Worst case, he ends up with one of the last cameras manufactured by Kodak – which will no doubt be collectible someday.
I hope this helps with your decision!