Tag: bankruptcy

(Reuters) - With investors placing bets on whether Eastman Kodak (EK.N) will file for bankruptcy, there is not so much a sense of crisis as a feeling of resignation and fatigue among the residents in its hometown.

At one point, the company employed more than 60,000 people in Rochester in upstate New York, where it was born more than 130 years ago. Now, that number is closer to 7,000 - and it has been decades since the company, once synonymous with photography, began its downward slide.

DETROIT (Reuters) - General Motors Corp is open to considering moving its headquarters from Detroit, selling U.S. plants and renegotiating its restructuring plan with its major union as it heads toward probable bankruptcy, the automaker's chief executive said on Monday.

CEO Fritz Henderson said it was more likely that GM was headed for bankruptcy by June 1 -- the U.S. government-imposed deadline for the automaker to restructure or face bankruptcy.

PHILADELPHIA (Reuters) - Trump Entertainment Resorts Inc, Donald Trump's casino group, is expected to file Tuesday for bankruptcy, The Wall Street Journal reported.

The company's board was scheduled to meet late Monday night to decide whether to authorize the filing, the newspaper reported in its online edition. Otherwise, the casino operator would be forced into bankruptcy involuntarily by creditors, the newspaper said.