On Tuesday, U.S. Bankruptcy Judge Allan Gropper approved the company’s plan to emerge from court oversight, paving the way for it to recreate itself as a new, much smaller company focused on commercial and packaging printing.
Kodak said it hopes to emerge from bankruptcy protection as early as Sept. 3.
“They still have people with immense skill and who know how to win,” said Mark Zupan, dean of the business school at the University of Rochester, near Kodak’s headquarters. “But it’s also a team that has gone through hell for the last 10 to 20 years. It has been like constant water torture.”