Getty Images is a big photo company from the USA. The firm has no money left. The firm cannot pay bills. Getty Images has many debts. The firm wants fewer debts. The firm leaves the stock market soon. All clients use the firm as before. The work goes on. A court checks the case. There is a plan to save the firm. The Getty family helps. An investment group gives money too. They give 533 million dollars. Many creditors take less money. That is 270 million dollars. The firm wants to heal now. Getty Images wanted to join Shutterstock before. That did not work. Authorities in Britain said no. The firm lost much money last year. The Getty family owns the firm. Their money comes from oil.
Getty Images has money trouble
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Definitions
- Insolvency
- An insolvency means a firm cannot pay its debts. A court helps to sort out the rest.
- Photo company
- A photo company collects pictures. Newspapers buy photos there.
- Creditors
- A creditor is someone who lent money. This person wants the money back.
- Stock market
- The stock market is a place to buy parts of firms.
- Investment group
- An investment group collects money from people. The group puts the money in firms to get more money.
People
- Mark Getty
- Mark Getty started the photo company Getty Images.
- Jean Paul Getty
- Jean Paul Getty was a rich man who made money with oil.
Locations
- Delaware
- Delaware is a state in the USA.
- USA
- The USA is a big country.
Sources
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