Eastman Kodak Hires Legal Advisor to Address Financial Difficulties

The Kodak Company has hired a law firm, Jones Day, for advice in the financial area and the viability of the company's turnaround plan. Kodak's stock dove 54% several weeks ago and according to a Wall Street Journal report, the options for handling the situation may include bankruptcy.  A Kodak spokesman stated they did not have any intention of filing for bankruptcy at this time.

Options Being Explored

The company spokesman also stated that is not unusual for a company in transformation to investigate and explore all options and to consult with outside advisors including legal and financial advisors. The Rochester based Kodak Company was founded 131 years ago and became famous for its film and its yellow packages. With the advent of digital technology, it has had to struggle and has focused on inkjet printers, a vast portfolio of patents and commercial printing. Kodak's ratings were recently lowered by Moody's, who claimed the downgrade reflected the company's weak financial performance as well as challenges in its ability to sustain profitability and positive cash flow.

Legal Financial Help is Available in Westchester County

If you have are feeling overwhelmed with debt and are not quite sure what actions to take to turn things around, you should consult with an experienced Westchester County bankruptcy lawyer for guidance. At Bronson Law Offices, we can put our years of experience to work for you and advise you as to what your best options are to get relief and lay the pathway for a more prosperous future. 

We have been helping individuals for over twenty-five years with legal matters and have come to realize that most people are responsible and want to pay off their debt, but even the most careful and responsible person can face an unexpected situation that brings forth financial difficulty or ruin. The Bankruptcy laws are set up so that when debtors need help in times of serious trouble, they have a way to gain a fresh start.