Faced with Chapter 11 bankruptcy, Kodak is looking forward to restructuring their company. Their aim is to emerge from the shadow of bankruptcy, a company with a new vision and plans for continued growth and economic stability.
Kodak is optimistic about its restructuring process.
There are five primary goals in this strategy;
- Construction of a stronger financial base
- Establishing a blueprint for their emergence in 2013
- Substantial upgrades within the operational structure
- Increasing vendor and consumer connections
- Eliminating excessive expenditures.
The strategies listed above are geared towards removing obstacles. These obstacles may hinder the revitalization of this company. Antonio Perez, the CEO, and chairman of Kodak envisions a stronger Kodak, with a new image and energy to move forward. Personalized Imaging, Document Imaging, and Customer Inkjet innovations will put a fresh face on the company’s creative ventures. They are planning to return to the market with a spotlight on sales, in the areas of corporate printing solutions, packaging, and project assistance. It will come back as a leaner, but more determined business, with a proven history of success. Right now there is much work to be done to position this company to attract a solid consumer base. Kodak needs more emphasis on meeting the needs of commercial ventures.
The success of photo publishing is helping Kodak to expand its reach in this area and develop more diverse offerings for customers. Bartell Drugs recently switched their photo processing in-store labs, with Kodak Adaptive Picture Exchange. Bartell Drugs is excited about the potential for faster photo processing and superior-quality pictures. This new technology will eventually allow them to offer web-based photo center options for their customers.
Kodak is preparing to emerge and it will highlight its strengths in the photo industry, photo processing, commercial sales, and customer service. It remains an innovative company, with an eye on the future and the knowledge of how to succeed.
If you are having any financial difficulties, call me for a free bankruptcy consult. Ralph A. Ferro, Jr., Esq.