CMR Insurance Services will be visiting the Moda fashion exhibition at the NEC Birmingham, where some of our fashion and footwear sector customers are showing their new ranges.
As predicted in our previous blog entry, Kodak has filed for Chapter 11 protection in the USA.
Under the US Bankruptcy laws, Chapter 11 gives protection against litigation for non-payment, so that the business can try to restructure, as well as some other potential rights such as being able to cancel contracts or to refinance the business, offering new lenders priority on earnings.
The timescale for a company in Chapter 11 can be a few months, or many years, depending on the individual circumstances.
How do you consider the outlook for 2012, for your business, and what are the risks which concern you most?
There is still a lot of uncertainty, due to Eurozone issues, political unrest in the Middle East and of course the UK economy which appears to be slipping back into recession. Bearing in mind that our key export markets are in the Eurozone, opportunities for growth are going to be limited - the Bank of England growth expectations for the UK economy in 2012 is just 1%.
