View of Kodak headquarters from Plymouth Avenue. / MARIE DE JESUS / staff photographer
By Matthew Daneman, Staff Writer, Democrat and Chronicle, October 12, 2012
As company moves to emerge from bankruptcy, it projects rising sales
The end is near.
After years of declines — particularly the past half dozen or so, in which Eastman Kodak Co. rapidly shrank both financially and physically — the Rochester icon now is pointing to 2013 as its bottoming-out point.
From then on, the company is predicting the world will see something it hasn’t seen in years — a growing Kodak.
The bankrupt printing and imaging company on Friday filed a set of financial projections with the U.S. Securities and Exchange Commission in conjunction with the beginning of talks with creditors about its reorganization. Getting unsecured creditors on board with its restructuring plans is one of the key steps left before Kodak can get out of bankruptcy.
CEO Antonio M. Perez said that as the company moves closer to emerging from bankruptcy, “We believe there is confidence and interest among the financial community in our … future business plans. We are gratified that there appears to be interest among several potential lenders to finance this business and emergence, and with this disclosure we are now better positioned to explore these funding opportunities.”
Kodak has said it hopes to emerge in the first half of 2013.