Kodak says it has made significant progress in its restructuring, and the company says it is now ready to begin discussions on a plan of reorganization with certain key creditors.
As part of this announcement, Kodak is disclosing some information about its financial projections. As part of its effort to get out of Chapter 11 bankruptcy next year, Kodak had previously announced it is selling off some businesses.
The company says its commercial imaging business, which it is keeping, has significant growth potential. Kodak is concentrating on commercial printing and packaging going forward.
CEO Antonio Perez says there appears to be interest among several potential lenders to finance the company going forward, and he says Kodak is now better positioned to explore those funding opportunities.