Firms Advise Kodak in Chapter 11

FTI Consulting, the business consultancy that includes the PR unit formerly known as FD, and Kekst and Company are among Kodak’s PR advisors as the legendary imaging company filed for chapter 11 bankruptcy protection today in New York.

After teetering for months, Kodak said the move will help it emerge “a lean, world-class, digital imaging and materials science company.”

Kodak said FTI vice chairman Dominic DiNapoli will serve as its chief restructuring officer.

FTI's strategic communications unit is counseling Kodak on PR while Publicis' Kekst and Company was brought in to handle bankruptcy communications.

Kodak has also engaged Lazard and Sullivan & Cromwell as it navigates bankruptcy protection and secured a $950M credit line from Citigroup.

“Kodak is taking a significant step toward enabling our enterprise to complete its transformation,” said Antonio M. Perez, chairman and CEO. The company's website for bankruptcy information uses the doman KodakTransforms.com.

Kodak engaged Joele Frank, Wilkinson Brimmer Katcher in August as it maneuvered to prevent a takeover amid a dwindling stock price. But the firm has since parted ways with Kodak and is not working on bankruptcy communications.

Kodak’s chief communications officer, Gerard Meuchner, resigned earlier this month after 11 years leaving manager of communications Christopher Veronda as its primary spokesman.