Kodak Files For Chapter 11 Bankruptcy

Well, the rumors were true: today the iconic photography company Kodak announced that it has filed for Chapter 11 bankruptcy protection. What this means is that the company is given permission to continue its normal operations as it struggles to restructure and transform into a sustainable business. While we probably won’t see the death of the Kodak brand, the company has stated that it intends to transform into “a lean, world-class, digital imaging and materials science company”, and that they’re planning to sell off “significant assets” during this process. It remains to be seen whether Kodak continues to play a significant role in film photography once it emerges out the other end of bankruptcy protection (if it ever does).

(via Reuters)

Thanks for sending in the tip, Ian!

Image credit: kodak by zrs_one

  • Oliver Lea

    Woah. I mean, we knew this was coming, but it’s still kinda… They’re Kodak.

  • Ian Ludwig

    No Prob!

  • Anonymous

    My first digital camera was a Kodak EasyShare CX6445.

    4.0MP and oh so glorious! I got it in high school (or maybe right before) for Christmas. I took it with me EVERYWHERE and dropped it a lot! I still have it and it still works. That thing is a tank!