It’s the end of an era for Kodak. The company is selling off its film arm in order to revive its fortunes. Kodak said on Thursday that it would sell its traditional off-the-shelf print-film business and several other businesses to raise additional cash as an auction of its digital patents continues on.
Aside from print film, Kodak’s businesses for sale include kiosks that develop digital photos, heavy-duty commercial scanners and related software used by large companies like health-insurance firms and more.
The company needs to raise over $660 million to pay back creditors before it can emerge from Chapter 11, which it aims to do early next year. It’s not a great time for Kodak obviously.