OUT OF THE WOODS

Kodak Bankruptcy Exit Plan Approved

Take a picture: Kodak isn’t shuttering after all. A federal judge approved the photo pioneer’s Plan of Reorganization on Tuesday, laying the groundwork for Kodak to emerge from bankruptcy protection on September 3. Moving forward, the company will focus on commercial and packaging printing in the world of digital photography. But the good news comes with collateral damage in the bankruptcy, including the loss of retirement benefits for former Kodak workers. Still, as Kodak CEO Antonio Perez said in a statement, the company’s “emergence is now imminent.”