This morning’s headlines include Eastman Kodak’s bankruptcy filing. What does this mean? My suspicion is not much, although the articles I read are unclear as to what will happen to traditional silver halide films and papers.
Film is largely unnecessary given the prevalence of digital cameras and may or may not remain. Traditional photographic paper, on the other hand, still fulfills a role and is likely to continue. After all, prints, either as a photo book or as 4×6 prints, are still the best way to preserve digital photos.
As I discussed in The Demise of Kodak?, Kodak makes many other high-quality products, including commercial and home printers. In all likelihood, these products will survive because they address specific digital product needs.
Employees, retirees, and stockholders will certainly suffer with the bankruptcy filing, but the company will continue. I speak from personal knowledge having gone through a similar situation at Creative Memories. And in fact, if Kodak is able to align its debts and business commitments with its business model it is likely to be a far healthier company when it emerges from bankruptcy.