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Camera Company Still Denying Bankruptcy Rumors

A camera company is vehemently denying recent claims of business bankruptcy despite public knowledge that the company is failing.

As the company that brought the first consumer camera to the market in 1888, it has been one of the most well-known organizations in the world. However, with the recent switch from film to digital, it is having trouble keeping up with the fast-paced world of modern cameras. In fact, the company has not shown any profits since 2007, but rather falls deeper into debt each year.

Last week the company issued a statement that it has no intention of filing for bankruptcy, which was released after the company's shares slid to just 54 cents this month. This brought the company's overall market value down to $210 million, a serious decline from the $31 billion it reported in February 1997. To make matters worse, the company was forced to tap into its own credit line, withdrawing over $100 million to the concern of shareholders.

Are you facing business bankruptcy due to economic hardships? Contact a Chicago business bankruptcy attorney from our law office now to become aware of your options. Our Chicago bankruptcy lawyers are standing by and ready to provide legal assistance when you need it most.

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