Bankrupt Kodak will stop producing cameras in 2012

Kodak, the beleaguered company that invented the handheld camera, is slashing its product lines in an attempt to survive a rapidly changing consumer electronics landscape.

The company began preparing for Chapter 11 bankruptcy at the very beginning of 2012; the filing was complete on January 18.

The iconic company will ease production of its cameras, including digital and pocket video cameras, as well as its digital picture frames, before the summer of 2012 is over. … Continue Reading

Dish to close down more Blockbuster stores soon

Finding a Blockbuster near you will become even harder in the near future. Dish Network Corp, which purchased the video-rental retail chain last year, made a statement Thursday saying more of the retail stores would be closing down in the U.S. than originally planned.

Dish, which immediately closed 10 percent of all Blockbuster video-rental stores but kept 90 percent of its employees, confirmed Thursday that unprofitable stores would be shuttered.

“We are committed to keeping … Continue Reading

Sad picture time: Kodak prepping for Chapter 11

After 131 years of innovating the photography industry, Eastman Kodak is reportedly preparing for a Chapter 11 bankruptcy protection.

Kodak has been on unsteady ground ever since digital photography began decimating the print photo business in the mid-2000s. The company had an especially bad year in 2011, and the company admitted Tuesday that it would be de-listed from the New York Stock Exchange unless is improves its financials in the next six months. The company’s … Continue Reading

Internet claims another victim: Borders closes remaining retail stores

Borders, the second-largest chain of book stores, announced that it will close its 399 remaining retail locations after failing to sell to another company, reports the Wall Street Journal.

The closed chain could cause sales of traditional paperback and hardcover to decline even quicker than they have to date. While many consumers have turned from brick-and-mortar locations to digital storefronts like Amazon and Barnes & Noble, spurring the decline of independent booksellers as well as … Continue Reading

Dish Network bids $1.38B for TerreStar Networks

TerreStar Networks on Wednesday revealed that Dish Network had placed an opening bid of $1.38 billion for the ailing telecommunications company’s assets through a bankruptcy auction, according to Reuters. TerreStar has operated under bankruptcy protection since Oct. 19.

Dish Networks likely wants TerreStar’s assests so it can acquire the company’s sought-after wireless spectrum, which could be used to build a wireless broadband network. The frequencies that Dish and TerreStar own are similar to what Sprint … Continue Reading

LA Times: Blockbuster preps for bankruptcy after Netflix, Redbox win movie rental wars

Brick-and-mortar movie and game rental chain Blockbuster has told major Hollywood studios that it’s preparing to file for bankruptcy next month despite several pushes to expand into online and kiosk services, the Los Angeles Times reports.

Sources close to the deal said the Dallas, Tex.-based company could file for bankruptcy as early as mid-September after executives met with six major movie studios to discuss their intent to enter a “pre-planned” bankruptcy.

Despite efforts to drive … Continue Reading

Life sciences briefing: Thursday, Jan. 10, 2008

Brick-and-mortar movie and game rental chain Blockbuster has told major Hollywood studios that it’s preparing to file for bankruptcy next month despite several pushes to expand into online and kiosk services, the Los Angeles Times reports.

Sources close to the deal said the Dallas, Tex.-based company could file for bankruptcy as early as mid-September after executives met with six major movie studios to discuss their intent to enter a “pre-planned” bankruptcy.

Despite efforts to drive … Continue Reading