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"Kodak&amp;#039;s request to borrow $950m (\u00A3601m) in restructuring funds has been approved by a court. The loan will enable the photography firm, which filed for bankruptcy protection last month, to remain in operation during a period of extensive restructuring. Kodak previously announced that it will no longer manufacture digital cameras, and will instead focus on photo printing, desktop inkjet printers and other markets to facilitate a cost-cutting strategy. Judge Allen Gropper&amp;#039;s ruling also paved the way for the firm to end its sponsorship of the Kodak Theatre in Los Angeles, which was costing the company $3.6 million (\u00A32.27m) per year. &amp;quot;Today&amp;#039;s agreement is another step towards ensuring that Kodak is positioned to execute on the goals the company set out last month - bolster our liquidity in the US and abroad, monetise our non-strategic intellectual property, fairly resolve legacy liabilities, and enable Kodak to focus on its most valuable business lines,&amp;quot; said chairman and CEO Antonio Perez. Kodak has struggled to compete in the current digital camera market following advancements in mobile phone technology. "^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.digitalspy.com/tech/news/a366221/kodak-lands-950m-loan-for-restructuring/>