Posts Tagged ‘bankruptcy’

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’s 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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MIOPS: Smartphone Controllable High Speed Camera Trigger

MIOPS is a new smartphone-controlled camera trigger that combines all of the features photographers want in a high-speed camera trigger into one convenient device.

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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…

Kodak Lost $1.38 Billion in 2012, Hopes to Leave Bankruptcy in Mid-2013

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Kodak burned historic amounts of money in 2012, but is apparently still on track to leave bankruptcy sometime this year. The company released an annual report with performance figures and messages to investors. One of the glaring numbers in the statement was the fact that company lost $1.38 billion in 2012, almost double the amount it lost in 2011.
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Jessops Brand Will Live on Online Thanks to UK Reality TV Star Peter Jones

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It looks like the Jessops name will be sticking around, even if the company’s 187 physical locations won’t. After going into administration (read: bankruptcy) a few weeks ago, and announcing that all stores would be closing, we thought that was it for the once-great UK photography chain.

But, as it turns out, the Jessops brand has found a savior by the name of Peter Jones, a UK entrepreneur made famous by the reality television show Dragons’ Den. The only catch is that Jones won’t be saving the physical stores (or the 1,300+ jobs that depend on them), he only wants the Jessops brand. Read more…

Jessops to Close All Stores, Putting 1,370 People Out of a Job

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A couple of days ago, UK camera retailer Jessops entered administration (essentially bankruptcy), appointing PricewaterhouseCoopers as their administrator and putting them in charge of the store’s fate.

At the time, no official next step had been laid out as over a thousand employees waited to hear if administration would translate into “liquidation” or “restructuring.” Sadly, it seems the former was the choice, as BBC News is reporting today that Jessops will indeed close up shop, putting nearly 1,400 people out of a job. Read more…