Kodak filed for bankruptcy recently in a bid to survive a liquidity crisis after years of falling sales, related to the decline of its namesake film business, as digital cameras took over the market.
Eastman Kodak Co, the photographic film pioneer, which tried to restructure to become a seller of consumer products, said it also obtained a $950m, 18-month credit facility from Citigroup (US financial services corporation) to keep it going.
This announcement raised concerns over the possible delivery of Kodak motion picture stock to South Africa. Screen Africa contacted David G Webb, GM: Entertainment Imaging, UK, Ireland, Middle East, Africa, Central & Eastern Europe, for comment.
Webb responded: “Kodak and its US subsidiaries only voluntarily filed for US Chapter 11 reorganisation last month. For all our operations worldwide it is very much business as usual for our customers.
“In South Africa we continue with normal operations and I look forward to the continuation of our strong and mutually beneficial relationships.’
Screen Africa Magazine – 2012