ROCHESTER, N.Y. (AP) — Blindsided by a digital revolution, Eastman Kodak is teetering on a financial precipice after a quarter-century of failed efforts to find its focus.
The 131-year-old company that turned picture-taking into a hobby for the masses has tried to bat down sudden talk of bankruptcy.
Kodak insists it has no intention of filing for bankruptcy protection. But investors are unsure it has the financial wherewithal to complete its decade-long turnaround — and employees worry more job cuts are on the way.
The collapse of such a legendary brand would reverberate through not only American business but would also have a profound cultural effect on generations worldwide who took their first snapshots with cameras bearing the unmistakable yellow-and-red K logo.