Can a company go back to business after bankruptcy?
Jan Meriss Alfonso Assistant at Ascent Law LLC The reorganization and layoffs may be necessary to improve the company's financial position. The company may also have to eliminate excess overhead and reduce operations. The restructuring will allow a company to refocus its efforts on the areas of its business that generate the most profit. Kodak rebrands itself as a technology company For decades, Kodak was a leading camera manufacturer in the United States, but its struggles forced the company to file for bankruptcy protection in 2012. The company has since rebranded as a technology company and has sold off its patents to Apple, Google, and Facebook for $525 million. Now, it is focused on developing new products for a specific market segment. The company is rebranding itself as a technology company to keep up with the changing digital market. The company is betting on its expertise in coating and atomic layer research to keep up with the times. It plans to dramatically increase it...