© 2022 Innovation Trail
Kodak, the 131-year-old photography pioneer, filed for bankruptcy on January 19th 2012.Eastman Kodak announced early this morning that filing for Chapter 11 bankruptcy was “the right thing to do for the future” of the company.In a statement, Kodak CEO Antonio Perez said company leadership decided the move was “a necessary step.”Innovation Trail has followed the story over the course of 2012.

Minority shareholder bids for Endicott Interconnect

In a court filing on Monday, Endicott Interconnect Technologies revealed that one of its shareholders has entered a bid to buy it. The details were contained in the company’s Chapter 11 bankruptcy proceedings.

Integrian Holdings, an LLC owned by James T. Matthews, has made a $250,000 offer to buy Endicott Interconnect. Matthews is a minority shareholder in Endicott Interconnect, which is wholly owned by members of his family.

According to court documents, the 600-employee company has $16 million in secured debt and tens of millions of dollars more in unsecured debt.

Endicott Interconnect was formed 10 years ago with substantial government assistance to keep IBM’s production facilities in the area from closing down. It filed for bankruptcy last week.

Lawyers for Endicott Interconnect requested a hearing date later this month for approval of the sale process, which would include a chance for other bidders to come forward.

WSKG/Southern Tier reporter for the Innovation Trail.