Posts Tagged ‘bankruptcy’

Photoflex Returns From the Grave, Says It’s Back in Business

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Well-known lighting gear manufacturer Photoflex may live on after all. No, its original April 1st announcement that it was closing shop wasn’t an ill-conceived April Fool’s Joke or a bizarre marketing stunt — the struggling company is reportedly working on a deal that will allow the brand to live on.
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Photo Scanning Businessman Being Sued for $90M After Making $120K Per Week

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John Rogers was once one of the high flying entrepreneurs in the photo world. After coming up with the brilliant idea of scanning old photos for newspapers and splitting the rights to the digital images, Rogers was on his way to amassing one of the largest photo libraries in the world and was earning a whopping $120,000 per week selling his images on eBay.

Now his empire has come crashing down. Rogers is reportedly being sued for more than $90 million and has lost his business entirely.
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Popular Lighting Gear Maker Photoflex Closing Shop After 30 Years in Business

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Photoflex, a popular manufacturer of lighting gear and camera accessories, has unexpectedly announced that it will be closing its business that has been in operation for three decades.
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Exclusive: Calumet Employee Reveals what Was Happening Behind the Scenes

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Shortly after news broke this morning that camera store chain Calumet had declared Chapter 7 bankruptcy and would be closing all of its US stores (or will it?), a Calumet Rental Manager — well, former Rental Manager now — got in touch with us to see if we wanted to get some of the behind the scenes details of how the bankruptcy came to be.

We, of course, said yes. The employee has asked to remain anonymous, and so his/her answers are labeled simply as “Calumet Employee” below. Read more…

Calumet Photo in the US Officially Declares Bankruptcy, Gave Employees Zero Notice

Update: Calumet has posted an update to its Facebook page to say they might reopen a few locations. Full statement at the bottom of this post.


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In a story that is still very much developing as more information comes to light, well-known camera store chain Calumet Photographic has filed for Chapter 7 Bankruptcy without so much as a whispered warning to their employees. Read more…

Why Kodak Isn’t Out of the Woods Yet

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Kodak clawed its way out of bankruptcy this past Tuesday, but the Rochester-based company has a long climb yet.

There’s been plenty of talk on this topic over the past week, but most of it seem to be focused on what Kodak gave up to emerge from the shadow of Chapter 11. NBC News, for example, emphasizes the loss of consumer-oriented operations and a 50% reduction in yearly expected revenue when they discuss the “New Kodak Moment.”

Anyone with an appreciation for Kodak‚Äôs heritage is sure to feel a twinge of sadness over these developments, but it is still far too early to be asking if the sacrifice was worth it. The more important question is “will it work?” Read more…

Kodak Officially Emerges from Chapter 11 Bankruptcy

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It’s been a long and depressing tunnel, but Kodak has finally reached the light at the end. Over a year and a half after declaring Chapter 11 Bankruptcy, the once-great camera giant officially reached the end of its financial troubles yesterday. Read more…

Kodak to Exit Bankruptcy, Will Emerge as a Commercial Printing Company

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It seems we’re entering into the final chapter of the Kodak Bankruptcy epic. After filing for chapter 11 bankruptcy in January or 2012, the ex-camera company’s final plan to exit bankruptcy received court approval on Monday. What emerges from the ashes, however, will be a company that does zero business with consumers directly. Read more…

Kodak to Sell Its Camera Film and Imaging Businesses in $2.8 Billion Deal

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We reported last August that Kodak was looking to sell its camera film business along with a number of other core businesses. Well, the company has now succeeded.

Kodak announced today that it has reached an agreement to sell off its two remaining imaging divisions — which includes its photographic film business — in a major deal worth $2.8 billion.
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Shutterfly Sues Kodak Over “My Kodak Moments” App

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According to Reuters, Shutterfly has officially filed court documents in an attempt to shut down Kodak’s My Kodak Moments app. Shutterfly — who purchased the Kodak Gallery from the bankrupt company for $23.8M last year — is claiming that the app is in violation of the terms of that sale, and demanding that it be taken down. Read more…